https://www.taxtmi.com/caselaws?id=190148 Liability under FERA could not be sustained where the statutory ingredients of the alleged contraventions were not established by admissible material within the scope of the notice. The court found that inward remittances into an NRE account did not, without proof of acquisition of foreign exchange in the manner contemplated by Section 8(1), justify liability, and an exculpatory co-noticee statement or an unauthenticated letter could not by itself fasten guilt. It also held that the facts did not disclose payment for the credit of a person outside India under Sections 9(1)(a) and 9(1)(f)(i). The penalty and appellate orders were therefore unsustainable, with refund of any deposited amount. en-us Mon, 15 Sep 2014 00:00:00 +0530 Wed, 08 Feb 2017 09:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190148 Liability under FERA could not be sustained where the statutory ingredients of the alleged contraventions were not established by admissible material within the scope of the notice. The court found that inward remittances into an NRE account did not, without proof of acquisition of foreign exchange in the manner contemplated by Section 8(1), justify liability, and an exculpatory co-noticee statement or an unauthenticated letter could not by itself fasten guilt. It also held that the facts did not disclose payment for the credit of a person outside India under Sections 9(1)(a) and 9(1)(f)(i). The penalty and appellate orders were therefore unsustainable, with refund of any deposited amount. Case-Laws FEMA Mon, 15 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190148