https://www.taxtmi.com/caselaws?id=457898 Penalty for alleged contravention of section 8(1) of the Foreign Exchange Regulation Act and confiscation of seized foreign currency were found unsustainable on the record. The currency was recovered from an almirah in the room occupied by the appellant's son and daughter-in-law, both non-residents, and the appellant's own statement and letter indicated that the son had given the currency for the daughter-in-law's expenses. As the record did not show recovery from the appellant's person or proof that he had acquired foreign exchange from an unauthorised source without Reserve Bank permission, the contravention was not established. Confiscation also failed because the currency belonged to the non-resident daughter-in-law, who was entitled to possess and use it in India or take it back. en-us Fri, 08 Dec 1995 00:00:00 +0530 Mon, 30 Sep 2024 16:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457898 Penalty for alleged contravention of section 8(1) of the Foreign Exchange Regulation Act and confiscation of seized foreign currency were found unsustainable on the record. The currency was recovered from an almirah in the room occupied by the appellant's son and daughter-in-law, both non-residents, and the appellant's own statement and letter indicated that the son had given the currency for the daughter-in-law's expenses. As the record did not show recovery from the appellant's person or proof that he had acquired foreign exchange from an unauthorised source without Reserve Bank permission, the contravention was not established. Confiscation also failed because the currency belonged to the non-resident daughter-in-law, who was entitled to possess and use it in India or take it back. Case-Laws FEMA Fri, 08 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457898