https://www.taxtmi.com/caselaws?id=174410 Retractions of custodial statements were treated as weak and unsafe material for penalty proceedings where voluntariness was doubtful and no independent corroboration existed. Third-party statements recorded under Section 40 were also regarded as unreliable when the affected party had no opportunity for cross-examination; once such material was excluded, the remaining evidence was said to be insufficient to sustain the penalty order. The discussion further notes that, in the absence of admissible supporting evidence, the foundation of liability fails and the quantum of penalty need not be separately examined. en-us Tue, 03 Apr 2007 00:00:00 +0530 Thu, 08 Oct 2015 10:14:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174410 Retractions of custodial statements were treated as weak and unsafe material for penalty proceedings where voluntariness was doubtful and no independent corroboration existed. Third-party statements recorded under Section 40 were also regarded as unreliable when the affected party had no opportunity for cross-examination; once such material was excluded, the remaining evidence was said to be insufficient to sustain the penalty order. The discussion further notes that, in the absence of admissible supporting evidence, the foundation of liability fails and the quantum of penalty need not be separately examined. Case-Laws FEMA Tue, 03 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174410