https://www.taxtmi.com/caselaws?id=457754 The Tribunal dismissed the appeal, affirming penalties of Rs. 25,000 and 20,000, and the confiscation of demand drafts worth Rs. 1,15,500 under the Foreign Exchange Regulation Act, 1973. Despite claims of coercion and procedural irregularities, the Tribunal found sufficient independent evidence corroborating the retracted statements. The request for penalty pre-deposit dispensation was dismissed due to inadequate documentation. The appeal was considered ex parte due to the Appellant's non-appearance and lack of communication, with the Tribunal concluding that the penalties were justified and not excessive given the contraventions. en-us Wed, 27 Jun 2001 00:00:00 +0530 Thu, 26 Sep 2024 17:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457754 The Tribunal dismissed the appeal, affirming penalties of Rs. 25,000 and 20,000, and the confiscation of demand drafts worth Rs. 1,15,500 under the Foreign Exchange Regulation Act, 1973. Despite claims of coercion and procedural irregularities, the Tribunal found sufficient independent evidence corroborating the retracted statements. The request for penalty pre-deposit dispensation was dismissed due to inadequate documentation. The appeal was considered ex parte due to the Appellant's non-appearance and lack of communication, with the Tribunal concluding that the penalties were justified and not excessive given the contraventions. Case-Laws FEMA Wed, 27 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457754