https://www.taxtmi.com/caselaws?id=785103 A seized pen drive may be relied on as primary electronic evidence without a Section 65B(4) certificate when its custody, contents and authenticity are otherwise established through seizure, contemporaneous opening, printouts and confirmation by persons linked to the transactions. The Tribunal also treated a payment arrangement in India to obtain foreign exchange abroad for meeting under-invoiced import liabilities as a financial transaction falling within Section 3(d) of FEMA, and found that the managing director and other directors could be fastened with liability on the facts. Penalty may still be reduced on appellate discretion where the contravention is maintained but the monetary sanction is considered excessive. en-us Thu, 08 Jan 2026 00:00:00 +0530 Sat, 17 Jan 2026 08:45:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785103 A seized pen drive may be relied on as primary electronic evidence without a Section 65B(4) certificate when its custody, contents and authenticity are otherwise established through seizure, contemporaneous opening, printouts and confirmation by persons linked to the transactions. The Tribunal also treated a payment arrangement in India to obtain foreign exchange abroad for meeting under-invoiced import liabilities as a financial transaction falling within Section 3(d) of FEMA, and found that the managing director and other directors could be fastened with liability on the facts. Penalty may still be reduced on appellate discretion where the contravention is maintained but the monetary sanction is considered excessive. Case-Laws FEMA Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785103