https://www.taxtmi.com/caselaws?id=457975 A retracted statement may be acted upon when it is independently corroborated by reliable contemporaneous material; here, seized foreign aerograms found at the appellant's residence supported the statement through matching addresses, coded references and telephone details. The governing test for attempt required conduct to move beyond preparation into direct movement towards commission. On the facts, telephoning the proposed payer and asking whether money was ready was only preparation, as no further step was taken before intervention. The finding of contravention could not stand, and the penalty order was set aside. en-us Tue, 13 Apr 1976 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457975 A retracted statement may be acted upon when it is independently corroborated by reliable contemporaneous material; here, seized foreign aerograms found at the appellant's residence supported the statement through matching addresses, coded references and telephone details. The governing test for attempt required conduct to move beyond preparation into direct movement towards commission. On the facts, telephoning the proposed payer and asking whether money was ready was only preparation, as no further step was taken before intervention. The finding of contravention could not stand, and the penalty order was set aside. Case-Laws FEMA Tue, 13 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457975