https://www.taxtmi.com/caselaws?id=457878 A finding of contravention under the Foreign Exchange Regulation Act cannot rest on doubtful search-and-seizure material or an involuntary, uncorroborated statement. The Board found that the panchnama and panch witness evidence did not reliably prove recovery of foreign or Indian currency from the appellant, and the search was not supported by the essential witness who conducted it. It also treated the appellant's custodial statement, promptly retracted and lacking independent corroboration, as unsafe proof of foreign exchange dealings. The contravention finding and penalty were therefore set aside. Confiscation of the seized currency and connected articles was, however, maintained because lawful ownership was not established and the alleged recovery from the appellant was not proved. en-us Thu, 28 Dec 1995 00:00:00 +0530 Mon, 30 Sep 2024 12:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457878 A finding of contravention under the Foreign Exchange Regulation Act cannot rest on doubtful search-and-seizure material or an involuntary, uncorroborated statement. The Board found that the panchnama and panch witness evidence did not reliably prove recovery of foreign or Indian currency from the appellant, and the search was not supported by the essential witness who conducted it. It also treated the appellant's custodial statement, promptly retracted and lacking independent corroboration, as unsafe proof of foreign exchange dealings. The contravention finding and penalty were therefore set aside. Confiscation of the seized currency and connected articles was, however, maintained because lawful ownership was not established and the alleged recovery from the appellant was not proved. Case-Laws FEMA Thu, 28 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457878