https://www.taxtmi.com/caselaws?id=196094 A retracted confessional statement can be relied on for foreign exchange contraventions when it is voluntary and supported by independent corroboration. Here, recovered foreign exchange and Indian currency, admissions during investigation, and the co-noticee's statement corroborated the confession, while a bare retraction without proof of coercion or threat was insufficient to displace its evidentiary value. The false statement charge was also sustained because the appellant's explanation for the currency source was disproved by the alleged lender's denial and surrounding circumstances. In light of the proved contraventions and corroborated evidence, the penalties were upheld as proportionate and no appellate interference was warranted. en-us Fri, 01 Oct 2010 00:00:00 +0530 Sat, 18 Nov 2017 16:24:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196094 A retracted confessional statement can be relied on for foreign exchange contraventions when it is voluntary and supported by independent corroboration. Here, recovered foreign exchange and Indian currency, admissions during investigation, and the co-noticee's statement corroborated the confession, while a bare retraction without proof of coercion or threat was insufficient to displace its evidentiary value. The false statement charge was also sustained because the appellant's explanation for the currency source was disproved by the alleged lender's denial and surrounding circumstances. In light of the proved contraventions and corroborated evidence, the penalties were upheld as proportionate and no appellate interference was warranted. Case-Laws FEMA Fri, 01 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196094