https://www.taxtmi.com/caselaws?id=457657 Section 71(3) of the Foreign Exchange Regulation Act placed the burden on a person found in possession of foreign exchange above the prescribed value to prove lawful possession. On the facts recorded, the appellant failed to establish any lawful explanation for the seized currency, and no illegality or infirmity was found in the adjudication order. The penalty and confiscation for contravention of section 8(1) were therefore sustained, and the appeal failed. en-us Mon, 24 Oct 2005 00:00:00 +0530 Wed, 25 Sep 2024 14:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457657 Section 71(3) of the Foreign Exchange Regulation Act placed the burden on a person found in possession of foreign exchange above the prescribed value to prove lawful possession. On the facts recorded, the appellant failed to establish any lawful explanation for the seized currency, and no illegality or infirmity was found in the adjudication order. The penalty and confiscation for contravention of section 8(1) were therefore sustained, and the appeal failed. Case-Laws FEMA Mon, 24 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457657