https://www.taxtmi.com/caselaws?id=384024 A retracted confessional statement, standing alone, cannot sustain penal action under FERA unless it is substantially corroborated by independent and cogent evidence. The Tribunal found that the only material against the appellant was an earlier confession later retracted, and the record disclosed no independent evidence linking the appellant to the alleged transactions or the relevant NRE account. In the absence of corroboration, the penalty was unsustainable. The adjudication order was set aside and the appeal was allowed. en-us Tue, 30 Jul 2019 00:00:00 +0530 Mon, 05 Aug 2019 07:49:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384024 A retracted confessional statement, standing alone, cannot sustain penal action under FERA unless it is substantially corroborated by independent and cogent evidence. The Tribunal found that the only material against the appellant was an earlier confession later retracted, and the record disclosed no independent evidence linking the appellant to the alleged transactions or the relevant NRE account. In the absence of corroboration, the penalty was unsustainable. The adjudication order was set aside and the appeal was allowed. Case-Laws FEMA Tue, 30 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384024