https://www.taxtmi.com/caselaws?id=457496 Voluntary admissions supported by corroborative evidence may sustain liability under foreign exchange law even if later retracted. The tribunal treated the appellant's statement that he arranged an NRE draft and received money for a non-resident as voluntary, and found it corroborated by the recipient's statement and seized documents. The subsequent retraction was rejected because no material showed threat, coercion, or duress. On that basis, contravention of Sections 9(1)(a) and 9(1)(b) of the Foreign Exchange Regulation Act, 1973 was proved and the penalty order was upheld. en-us Thu, 10 Jul 2008 00:00:00 +0530 Fri, 20 Sep 2024 20:58:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457496 Voluntary admissions supported by corroborative evidence may sustain liability under foreign exchange law even if later retracted. The tribunal treated the appellant's statement that he arranged an NRE draft and received money for a non-resident as voluntary, and found it corroborated by the recipient's statement and seized documents. The subsequent retraction was rejected because no material showed threat, coercion, or duress. On that basis, contravention of Sections 9(1)(a) and 9(1)(b) of the Foreign Exchange Regulation Act, 1973 was proved and the penalty order was upheld. Case-Laws FEMA Thu, 10 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457496