https://www.taxtmi.com/caselaws?id=778732 AT held that statements of co-noticees recorded under Section 37 are admissible and could be relied on despite lack of cross-examination, and found contravention of Section 3(c) by the appellant based on seized Indian currency and fax communications indicating hawala payments. The Tribunal found the original penalty of Rs. 30,00,000 excessive and reduced it to Rs. 8,00,000 (amount already pre-deposited), otherwise upholding the adjudicating authority's findings. The appeal was disposed of accordingly. en-us Wed, 23 Apr 2025 00:00:00 +0530 Mon, 22 Sep 2025 08:33:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778732 AT held that statements of co-noticees recorded under Section 37 are admissible and could be relied on despite lack of cross-examination, and found contravention of Section 3(c) by the appellant based on seized Indian currency and fax communications indicating hawala payments. The Tribunal found the original penalty of Rs. 30,00,000 excessive and reduced it to Rs. 8,00,000 (amount already pre-deposited), otherwise upholding the adjudicating authority's findings. The appeal was disposed of accordingly. Case-Laws FEMA Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778732