https://www.taxtmi.com/caselaws?id=459765 Retraction of an earlier statement did not defeat liability where the statement was voluntary and was independently corroborated by seized documents, employee evidence, recovery of money, and surrounding circumstances; the finding of contravention under the foreign exchange law was therefore maintained. However, because the seized amount had already been confiscated, the original monetary penalty was treated as excessive and was reduced, giving the appellant partial relief. en-us Tue, 15 Oct 2013 00:00:00 +0530 Fri, 27 Dec 2024 12:30:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459765 Retraction of an earlier statement did not defeat liability where the statement was voluntary and was independently corroborated by seized documents, employee evidence, recovery of money, and surrounding circumstances; the finding of contravention under the foreign exchange law was therefore maintained. However, because the seized amount had already been confiscated, the original monetary penalty was treated as excessive and was reduced, giving the appellant partial relief. Case-Laws Indian Laws Tue, 15 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459765