https://www.taxtmi.com/caselaws?id=457912 The appellate authority set aside the penalties imposed under the Foreign Exchange Regulation Act, 1973, due to procedural inadequacies, including reliance on retracted confessional statements and insufficient evidence disclosure. Recognizing a prima facie case of hardship, the pre-deposit requirement was waived. The case was remanded for fresh adjudication, mandating independent evaluation of charges and evidence, excluding confessional statements. The adjudicating officer must reassess the penalty quantum, considering the degree of culpability and other relevant circumstances. The appellant was granted an opportunity to address the evidence, with a specified appearance date for further proceedings. en-us Wed, 20 Dec 1995 00:00:00 +0530 Mon, 30 Sep 2024 16:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457912 The appellate authority set aside the penalties imposed under the Foreign Exchange Regulation Act, 1973, due to procedural inadequacies, including reliance on retracted confessional statements and insufficient evidence disclosure. Recognizing a prima facie case of hardship, the pre-deposit requirement was waived. The case was remanded for fresh adjudication, mandating independent evaluation of charges and evidence, excluding confessional statements. The adjudicating officer must reassess the penalty quantum, considering the degree of culpability and other relevant circumstances. The appellant was granted an opportunity to address the evidence, with a specified appearance date for further proceedings. Case-Laws FEMA Wed, 20 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457912