https://www.taxtmi.com/caselaws?id=457759 Possession of foreign currency beyond the prescribed limit shifted the statutory burden under section 71(3) of the Foreign Exchange Regulation Act, 1973 to the person concerned to prove lawful possession, and the failure to produce supporting material sustained the contravention and penalty. Prior Customs seizure did not bar adjudication under the foreign exchange law, and the penalty was treated as distinct from confiscation so as not to constitute double jeopardy. The challenge on both grounds therefore failed, and the penalty order was maintained. en-us Mon, 25 Jun 2001 00:00:00 +0530 Thu, 26 Sep 2024 18:51:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457759 Possession of foreign currency beyond the prescribed limit shifted the statutory burden under section 71(3) of the Foreign Exchange Regulation Act, 1973 to the person concerned to prove lawful possession, and the failure to produce supporting material sustained the contravention and penalty. Prior Customs seizure did not bar adjudication under the foreign exchange law, and the penalty was treated as distinct from confiscation so as not to constitute double jeopardy. The challenge on both grounds therefore failed, and the penalty order was maintained. Case-Laws FEMA Mon, 25 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457759