https://www.taxtmi.com/caselaws?id=457790 Foreign exchange contravention under the Foreign Exchange Regulation Act was sustained only where the statement, recovered chits and surrounding circumstances provided reliable corroboration for the specific transaction alleged. The remaining alleged dealings were not proved with sufficient certainty because the money deliverer was not traced and the investigation did not establish those transactions satisfactorily. The finding was therefore confined to the amount supported by the evidence, and the penalty was reduced in light of the appellant's bad health and indigent condition. en-us Wed, 21 Apr 1999 00:00:00 +0530 Fri, 27 Sep 2024 13:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457790 Foreign exchange contravention under the Foreign Exchange Regulation Act was sustained only where the statement, recovered chits and surrounding circumstances provided reliable corroboration for the specific transaction alleged. The remaining alleged dealings were not proved with sufficient certainty because the money deliverer was not traced and the investigation did not establish those transactions satisfactorily. The finding was therefore confined to the amount supported by the evidence, and the penalty was reduced in light of the appellant's bad health and indigent condition. Case-Laws FEMA Wed, 21 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457790