https://www.taxtmi.com/caselaws?id=457759 The Tribunal dismissed the appeal, affirming the Adjudication Order imposing a penalty for violating the Foreign Exchange Regulation Act, 1973. The appellant's request for dispensation of pre-deposit due to financial incapacity was denied due to insufficient evidence. The Tribunal proceeded ex parte, as proper notice was served. The appellant's claims of double jeopardy and retraction of statements were found unsubstantiated. The Tribunal concluded that the appellant failed to prove lawful acquisition of the seized foreign currency, and the penalties imposed were justified. The decision underscores the necessity of compliance with foreign exchange laws and the burden of proof on the appellant. 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 The Tribunal dismissed the appeal, affirming the Adjudication Order imposing a penalty for violating the Foreign Exchange Regulation Act, 1973. The appellant's request for dispensation of pre-deposit due to financial incapacity was denied due to insufficient evidence. The Tribunal proceeded ex parte, as proper notice was served. The appellant's claims of double jeopardy and retraction of statements were found unsubstantiated. The Tribunal concluded that the appellant failed to prove lawful acquisition of the seized foreign currency, and the penalties imposed were justified. The decision underscores the necessity of compliance with foreign exchange laws and the burden of proof on the appellant. Case-Laws FEMA Mon, 25 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457759