https://www.taxtmi.com/caselaws?id=381950 Unauthorized foreign exchange dealings under FEMA were alleged on the basis of statements, seized documents, and notebook entries, but the tribunal found the evidence insufficiently reliable. It held that unverified diary entries and statements from an absconding witness could not safely support liability, especially where the appellant was denied meaningful cross-examination. The tribunal treated the denial of cross-examination and the resulting breach of natural justice as material defects in the adjudication, and gave the benefit of doubt to the appellant. The impugned penalty order was therefore set aside. en-us Mon, 17 Jun 2019 00:00:00 +0530 Sat, 22 Jun 2019 07:39:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381950 Unauthorized foreign exchange dealings under FEMA were alleged on the basis of statements, seized documents, and notebook entries, but the tribunal found the evidence insufficiently reliable. It held that unverified diary entries and statements from an absconding witness could not safely support liability, especially where the appellant was denied meaningful cross-examination. The tribunal treated the denial of cross-examination and the resulting breach of natural justice as material defects in the adjudication, and gave the benefit of doubt to the appellant. The impugned penalty order was therefore set aside. Case-Laws FEMA Mon, 17 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381950