https://www.taxtmi.com/caselaws?id=371675 A contravention under the Foreign Exchange Regulation Act, 1973 requires evidence of foreign exchange dealings and a clear nexus between the alleged conduct and the statutory prohibition. The adjudication order was founded mainly on loose sheets recovered from the main accused's residence and the appellant's statement, but the record did not show what investigation was conducted or how any alleged payment in Indian currency established a breach. No evidence proved that the appellant received or made foreign exchange payments, and mere holding or dealing in Indian currency was not treated as a violation. The alleged contravention was therefore not proved and the order could not be sustained against the appellant. en-us Wed, 05 Dec 2018 00:00:00 +0530 Sat, 08 Dec 2018 06:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371675 A contravention under the Foreign Exchange Regulation Act, 1973 requires evidence of foreign exchange dealings and a clear nexus between the alleged conduct and the statutory prohibition. The adjudication order was founded mainly on loose sheets recovered from the main accused's residence and the appellant's statement, but the record did not show what investigation was conducted or how any alleged payment in Indian currency established a breach. No evidence proved that the appellant received or made foreign exchange payments, and mere holding or dealing in Indian currency was not treated as a violation. The alleged contravention was therefore not proved and the order could not be sustained against the appellant. Case-Laws FEMA Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371675