https://www.taxtmi.com/caselaws?id=457658 Penalty for contravention of section 9(1)(d) of the Foreign Exchange Regulation Act, 1973 could not rest on a retracted inculpatory statement unless the authority first found the statement voluntary, applied its mind to the retraction, and had adequate corroborative support from surrounding material. On the record, there was no sufficient basis showing meaningful consideration of the retraction or independent assurance for the confession. The penalty order was therefore held unsustainable and set aside, with relief granted to the appellant. en-us Mon, 19 Sep 2005 00:00:00 +0530 Wed, 25 Sep 2024 14:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457658 Penalty for contravention of section 9(1)(d) of the Foreign Exchange Regulation Act, 1973 could not rest on a retracted inculpatory statement unless the authority first found the statement voluntary, applied its mind to the retraction, and had adequate corroborative support from surrounding material. On the record, there was no sufficient basis showing meaningful consideration of the retraction or independent assurance for the confession. The penalty order was therefore held unsustainable and set aside, with relief granted to the appellant. Case-Laws FEMA Mon, 19 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457658