https://www.taxtmi.com/caselaws?id=459812 The Appellate Tribunal for Foreign Exchange, New Delhi upheld contraventions under FERA sections 9(1)(b) and 9(1)(d) involving unauthorized foreign exchange transactions with a non-resident. The appellant received and distributed amounts without RBI authorization through an Abu Dhabi resident. Despite the appellant's retracted confession, the Tribunal found corroborating witness statements and documentary evidence reliable. The Adjudicating Officer was held not bound by Indian Evidence Act provisions. Penalties and confiscation under section 63 were deemed proportionate to contraventions. The Tribunal confirmed the original order without modification. en-us Mon, 19 May 2014 00:00:00 +0530 Sat, 28 Dec 2024 20:42:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459812 The Appellate Tribunal for Foreign Exchange, New Delhi upheld contraventions under FERA sections 9(1)(b) and 9(1)(d) involving unauthorized foreign exchange transactions with a non-resident. The appellant received and distributed amounts without RBI authorization through an Abu Dhabi resident. Despite the appellant's retracted confession, the Tribunal found corroborating witness statements and documentary evidence reliable. The Adjudicating Officer was held not bound by Indian Evidence Act provisions. Penalties and confiscation under section 63 were deemed proportionate to contraventions. The Tribunal confirmed the original order without modification. Case-Laws FEMA Mon, 19 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459812