https://www.taxtmi.com/article/detailed?id=13088 Contravention of the foreign remittance prohibition arises when a person in India receives payments on behalf of a non resident otherwise than through an authorised person; penalties follow the Act's adjudicatory scheme. In the examined matter, enforcement relied on seized currency, computerized accounts, mobile call printouts and third party statements to corroborate retracted witness statements and link receipts to instructions from abroad. The discussion stresses that retracted statements require independent corroboration and considers application of seized or deposited monies in calibrating penalties. en-us Fri, 08 Nov 2024 13:02:56 +0530 Fri, 08 Nov 2024 13:02:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13088 Contravention of the foreign remittance prohibition arises when a person in India receives payments on behalf of a non resident otherwise than through an authorised person; penalties follow the Act's adjudicatory scheme. In the examined matter, enforcement relied on seized currency, computerized accounts, mobile call printouts and third party statements to corroborate retracted witness statements and link receipts to instructions from abroad. The discussion stresses that retracted statements require independent corroboration and considers application of seized or deposited monies in calibrating penalties. Articles FEMA - Foreign Exchange Management Fri, 08 Nov 2024 13:02:56 +0530 https://www.taxtmi.com/article/detailed?id=13088