https://www.taxtmi.com/caselaws?id=457669 Retracted statements remained admissible where the alleged retraction was not satisfactorily proved, its service was unestablished, and there was no reliable material showing inducement, threat, or coercion. The seized foreign currency and surrounding record continued to support the finding of contravention under the Foreign Exchange Regulation Act, 1973, and the appellant did not discharge the burden under the statutory presumption. Mere retraction, without proof that the original statement was improperly procured, was insufficient to displace its evidentiary value, so the penalty and confiscation were sustained. en-us Fri, 12 Aug 2005 00:00:00 +0530 Wed, 25 Sep 2024 15:20:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457669 Retracted statements remained admissible where the alleged retraction was not satisfactorily proved, its service was unestablished, and there was no reliable material showing inducement, threat, or coercion. The seized foreign currency and surrounding record continued to support the finding of contravention under the Foreign Exchange Regulation Act, 1973, and the appellant did not discharge the burden under the statutory presumption. Mere retraction, without proof that the original statement was improperly procured, was insufficient to displace its evidentiary value, so the penalty and confiscation were sustained. Case-Laws FEMA Fri, 12 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457669