https://www.taxtmi.com/caselaws?id=355158 The tribunal set aside the penalty imposed on the appellant for abetting in transferring foreign exchange, ruling in favor of the appellant's appeal. The tribunal found insufficient evidence linking the appellant to the contravention of foreign exchange laws, criticizing the reliance on inferences without substantial proof. It emphasized the necessity of clear-cut evidence in penalizing individuals for law violations, especially in cases involving fraudulent activities. The tribunal noted the adjudicating authority's oversight in investigating the appellant's alleged ownership of firms and its connection to the fraudulent transfer of foreign exchange. en-us Wed, 31 Jan 2018 00:00:00 +0530 Fri, 09 Feb 2018 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355158 The tribunal set aside the penalty imposed on the appellant for abetting in transferring foreign exchange, ruling in favor of the appellant's appeal. The tribunal found insufficient evidence linking the appellant to the contravention of foreign exchange laws, criticizing the reliance on inferences without substantial proof. It emphasized the necessity of clear-cut evidence in penalizing individuals for law violations, especially in cases involving fraudulent activities. The tribunal noted the adjudicating authority's oversight in investigating the appellant's alleged ownership of firms and its connection to the fraudulent transfer of foreign exchange. Case-Laws FEMA Wed, 31 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355158