https://www.taxtmi.com/caselaws?id=457371 A penalty for contravention of foreign exchange law was upheld where the appellant's retracted inculpatory statement, recorded under Section 40 of the Foreign Exchange Regulation Act, 1973, was found voluntary and reliable. The tribunal considered the statement together with seized documents and surrounding circumstances, and noted that the retraction was unsupported by any material showing coercion or threat. The admitted contents of the seized papers and the sequence of events corroborated the admission that payments were made in India on behalf of a person resident outside India without Reserve Bank of India permission. A retracted confession can sustain liability when voluntariness and corroboration are established. en-us Mon, 12 Oct 2009 00:00:00 +0530 Wed, 18 Sep 2024 13:32:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457371 A penalty for contravention of foreign exchange law was upheld where the appellant's retracted inculpatory statement, recorded under Section 40 of the Foreign Exchange Regulation Act, 1973, was found voluntary and reliable. The tribunal considered the statement together with seized documents and surrounding circumstances, and noted that the retraction was unsupported by any material showing coercion or threat. The admitted contents of the seized papers and the sequence of events corroborated the admission that payments were made in India on behalf of a person resident outside India without Reserve Bank of India permission. A retracted confession can sustain liability when voluntariness and corroboration are established. Case-Laws FEMA Mon, 12 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457371