https://www.taxtmi.com/caselaws?id=457966 A retracted confession may still establish contravention of foreign exchange law where it is found voluntary, true and corroborated by seized documents. Here, the appellant's statement admitting receipt and payment of amounts connected with persons resident outside India was supported by coded documentary material, and the belated retraction did not undermine its reliability. The defence that no specific names were mentioned and no actual remittance was proved was rejected, so contravention of section 9(1)(b) and section 9(1)(d) of the Foreign Exchange Regulation Act, 1973 was established. The penalty was nevertheless moderated in view of the circumstances, including the personal use of the amounts and the absence of a money-spinning racket. en-us Fri, 30 Oct 1992 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457966 A retracted confession may still establish contravention of foreign exchange law where it is found voluntary, true and corroborated by seized documents. Here, the appellant's statement admitting receipt and payment of amounts connected with persons resident outside India was supported by coded documentary material, and the belated retraction did not undermine its reliability. The defence that no specific names were mentioned and no actual remittance was proved was rejected, so contravention of section 9(1)(b) and section 9(1)(d) of the Foreign Exchange Regulation Act, 1973 was established. The penalty was nevertheless moderated in view of the circumstances, including the personal use of the amounts and the absence of a money-spinning racket. Case-Laws FEMA Fri, 30 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457966