https://www.taxtmi.com/caselaws?id=258350 Under the Foreign Exchange Regulation Act, 1973, adjudication and criminal prosecution are independent proceedings, so a criminal acquittal does not bind the adjudicating authority. The higher standard of proof in criminal trial meant the acquittal did not erase the factual basis for penalty proceedings or make the penalty unsustainable. Relying on Supreme Court authority under the same enactment, the court reiterated that findings in one proceeding are not conclusive in the other. The challenge to the appellate tribunal's order therefore failed, and the penalty was not barred by the acquittal. en-us Fri, 23 Jan 2015 00:00:00 +0530 Tue, 07 Apr 2015 05:58:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258350 Under the Foreign Exchange Regulation Act, 1973, adjudication and criminal prosecution are independent proceedings, so a criminal acquittal does not bind the adjudicating authority. The higher standard of proof in criminal trial meant the acquittal did not erase the factual basis for penalty proceedings or make the penalty unsustainable. Relying on Supreme Court authority under the same enactment, the court reiterated that findings in one proceeding are not conclusive in the other. The challenge to the appellate tribunal's order therefore failed, and the penalty was not barred by the acquittal. Case-Laws FEMA Fri, 23 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258350