https://www.taxtmi.com/caselaws?id=457367 A retracted confessional statement may be relied on where the maker fails to prove coercion, inducement, threat or undue influence, and where the retraction is not shown to have been made at the earliest opportunity. Here, the recorded statement was corroborated by surrounding circumstances, including recovery of currency and transactions traced through a co-noticee, so it was treated as voluntary and reliable. On that basis, the finding of contravention of section 9(1)(b) and section 9(1)(d) of the Foreign Exchange Regulation Act, 1973 was sustained, and the penalty was confirmed as proportionate to the misconduct. en-us Fri, 18 Sep 2009 00:00:00 +0530 Wed, 18 Sep 2024 12:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457367 A retracted confessional statement may be relied on where the maker fails to prove coercion, inducement, threat or undue influence, and where the retraction is not shown to have been made at the earliest opportunity. Here, the recorded statement was corroborated by surrounding circumstances, including recovery of currency and transactions traced through a co-noticee, so it was treated as voluntary and reliable. On that basis, the finding of contravention of section 9(1)(b) and section 9(1)(d) of the Foreign Exchange Regulation Act, 1973 was sustained, and the penalty was confirmed as proportionate to the misconduct. Case-Laws FEMA Fri, 18 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457367