https://www.taxtmi.com/caselaws?id=457531 A retracted confession may still support liability where it appears voluntary and is corroborated by independent documentary and circumstantial evidence. In this foreign exchange matter, the admission of unauthorised purchase and sale of foreign exchange was supported by recovery of foreign exchange, Indian currency, incriminating documents, and lawful search and seizure records. Minor discrepancies in witness testimony were treated as immaterial, and the standard of proof in such economic offences was held not to require mathematical precision. On that basis, contravention of sections 8(1) and 8(2) of the Foreign Exchange Regulation Act, 1973 was proved and the penalty and confiscation order were sustained. en-us Tue, 24 Jun 2008 00:00:00 +0530 Mon, 23 Sep 2024 11:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457531 A retracted confession may still support liability where it appears voluntary and is corroborated by independent documentary and circumstantial evidence. In this foreign exchange matter, the admission of unauthorised purchase and sale of foreign exchange was supported by recovery of foreign exchange, Indian currency, incriminating documents, and lawful search and seizure records. Minor discrepancies in witness testimony were treated as immaterial, and the standard of proof in such economic offences was held not to require mathematical precision. On that basis, contravention of sections 8(1) and 8(2) of the Foreign Exchange Regulation Act, 1973 was proved and the penalty and confiscation order were sustained. Case-Laws FEMA Tue, 24 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457531