https://www.taxtmi.com/highlights?id=96980 Admissibility of statements recorded under the Customs Act in FEMA proceedings was upheld where those statements were corroborated by independent evidence; retracted confessional statements may be relied upon if supported by corroboration and not shown to be involuntary, and the tribunal accepted prior Supreme Court principles on this point. Digital and physical evidence recovered and examined by GEQD, Hyderabad, including transaction records and slip pads, corroborated payments routed through intermediaries and non-banking channels, supporting findings of contravention of FEMA. Penalties against the principal respondents for contravening FEMA provisions were sustained, while penalties imposed on nominal partners were set aside. en-us Wed, 18 Feb 2026 10:25:30 +0530 Wed, 18 Feb 2026 10:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96980 Admissibility of statements recorded under the Customs Act in FEMA proceedings was upheld where those statements were corroborated by independent evidence; retracted confessional statements may be relied upon if supported by corroboration and not shown to be involuntary, and the tribunal accepted prior Supreme Court principles on this point. Digital and physical evidence recovered and examined by GEQD, Hyderabad, including transaction records and slip pads, corroborated payments routed through intermediaries and non-banking channels, supporting findings of contravention of FEMA. Penalties against the principal respondents for contravening FEMA provisions were sustained, while penalties imposed on nominal partners were set aside. Highlights FEMA Wed, 18 Feb 2026 10:25:30 +0530 https://www.taxtmi.com/highlights?id=96980