https://www.taxtmi.com/caselaws?id=457723 A retracted inculpatory statement may still be relied on where the retraction is vague or unconvincing and corroborative circumstances support the original account. The tribunal found the explanation for the currency and related transactions unsatisfactory, and sustained the finding of liability. Confiscation was reduced, penalty was maintained, and the balance amount was directed to be refunded. en-us Thu, 01 May 2003 00:00:00 +0530 Thu, 26 Sep 2024 16:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457723 A retracted inculpatory statement may still be relied on where the retraction is vague or unconvincing and corroborative circumstances support the original account. The tribunal found the explanation for the currency and related transactions unsatisfactory, and sustained the finding of liability. Confiscation was reduced, penalty was maintained, and the balance amount was directed to be refunded. Case-Laws FEMA Thu, 01 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457723