https://www.taxtmi.com/caselaws?id=457976 The Appellate Tribunal upheld the adjudication order, confirming the penalty and confiscation of seized foreign exchange under the Foreign Exchange Regulation Act, 1973. The appellant's failure to prove lawful possession, as required by section 71(3), and the unconvincing nature of his explanations contributed to the dismissal of the appeal. The Tribunal found the confiscation justified under section 63, given the appellant's export business and familiarity with foreign exchange regulations. The appellant's reliance on a letter from a visitor was insufficient to discharge the burden of proof, leading to the affirmation of the Adjudicating Officer's decision. en-us Thu, 29 Oct 1992 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457976 The Appellate Tribunal upheld the adjudication order, confirming the penalty and confiscation of seized foreign exchange under the Foreign Exchange Regulation Act, 1973. The appellant's failure to prove lawful possession, as required by section 71(3), and the unconvincing nature of his explanations contributed to the dismissal of the appeal. The Tribunal found the confiscation justified under section 63, given the appellant's export business and familiarity with foreign exchange regulations. The appellant's reliance on a letter from a visitor was insufficient to discharge the burden of proof, leading to the affirmation of the Adjudicating Officer's decision. Case-Laws FEMA Thu, 29 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457976