https://www.taxtmi.com/caselaws?id=753953 The Appellate Tribunal under SAFEMA upheld FERA Section 8(1) contravention charges against appellants who received money transferred from an NRE account containing foreign exchange deposits. The Tribunal rejected appellants' argument that receiving Indian currency from the NRE account exempted them from FERA provisions, ruling that foreign exchange origin satisfied Section 8(1) requirements. The Tribunal found no violation of natural justice in denying cross-examination of an unavailable NRI witness whose statement was never recorded, noting quasi-judicial proceedings allow documentary evidence. The appellants' acquittal by ACMM Court was deemed non-binding as respondents sufficiently proved their case through bank documents and appellants' Section 40 statements, given different standards of proof in criminal versus adjudication proceedings. en-us Wed, 29 May 2024 00:00:00 +0530 Thu, 13 Jun 2024 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753953 The Appellate Tribunal under SAFEMA upheld FERA Section 8(1) contravention charges against appellants who received money transferred from an NRE account containing foreign exchange deposits. The Tribunal rejected appellants' argument that receiving Indian currency from the NRE account exempted them from FERA provisions, ruling that foreign exchange origin satisfied Section 8(1) requirements. The Tribunal found no violation of natural justice in denying cross-examination of an unavailable NRI witness whose statement was never recorded, noting quasi-judicial proceedings allow documentary evidence. The appellants' acquittal by ACMM Court was deemed non-binding as respondents sufficiently proved their case through bank documents and appellants' Section 40 statements, given different standards of proof in criminal versus adjudication proceedings. Case-Laws FEMA Wed, 29 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753953