https://www.taxtmi.com/caselaws?id=762955 In foreign exchange penalty proceedings under FEMA and the Realisation, Repatriation and Surrender Regulations, proof of import against remittances remains central. The article notes that where import documents, airway bills and invoices supported part of the transactions, and the balance records could not be traced after 13 to 14 years because of gaps in the bank record chain, the appellant should receive the benefit of doubt. On that basis, non-production of old documents alone was treated as insufficient to establish contravention, and the penalty was regarded as unsustainable. en-us Wed, 23 Oct 2024 00:00:00 +0530 Tue, 10 Dec 2024 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762955 In foreign exchange penalty proceedings under FEMA and the Realisation, Repatriation and Surrender Regulations, proof of import against remittances remains central. The article notes that where import documents, airway bills and invoices supported part of the transactions, and the balance records could not be traced after 13 to 14 years because of gaps in the bank record chain, the appellant should receive the benefit of doubt. On that basis, non-production of old documents alone was treated as insufficient to establish contravention, and the penalty was regarded as unsustainable. Case-Laws FEMA Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762955