https://www.taxtmi.com/caselaws?id=173256 Forfeiture proceedings require the competent authority to form a reasoned belief on recorded, relevant material that the property was illegally acquired, and confiscation cannot rest on an inadequately supported or unproved belief. Contemporaneous income-tax returns, assessments, and related documents produced before the notice are relevant evidence of lawful source and cannot be ignored without proper enquiry. The statutory inquiry powers should be used to verify the explanation before rejecting it, especially where the alleged illegal acquisition is not independently established. en-us Tue, 31 Mar 2009 00:00:00 +0530 Fri, 11 Sep 2015 10:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173256 Forfeiture proceedings require the competent authority to form a reasoned belief on recorded, relevant material that the property was illegally acquired, and confiscation cannot rest on an inadequately supported or unproved belief. Contemporaneous income-tax returns, assessments, and related documents produced before the notice are relevant evidence of lawful source and cannot be ignored without proper enquiry. The statutory inquiry powers should be used to verify the explanation before rejecting it, especially where the alleged illegal acquisition is not independently established. Case-Laws FEMA Tue, 31 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173256