https://www.taxtmi.com/caselaws?id=457842 Penalty under the Foreign Exchange Regulation Act was found unsustainable because the material did not clearly identify the alleged contravener and the evidence remained ambiguous and contradictory. The adjudicating authority had relied on a retracted statement and another person's statement, but the appellant's statement was not treated as a reliable self-incriminatory admission, and no independent witness from the panchnama was examined. On that record, culpability was not established with the required certainty, so the impugned penalty order was set aside in favour of the appellant. en-us Fri, 05 Dec 1997 00:00:00 +0530 Sun, 29 Sep 2024 16:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457842 Penalty under the Foreign Exchange Regulation Act was found unsustainable because the material did not clearly identify the alleged contravener and the evidence remained ambiguous and contradictory. The adjudicating authority had relied on a retracted statement and another person's statement, but the appellant's statement was not treated as a reliable self-incriminatory admission, and no independent witness from the panchnama was examined. On that record, culpability was not established with the required certainty, so the impugned penalty order was set aside in favour of the appellant. Case-Laws FEMA Fri, 05 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457842