https://www.taxtmi.com/caselaws?id=788096 An adverse penalty for alleged contravention of the Foreign Exchange Regulation Act, 1973 must rest on a reasoned discussion of the evidence linking the person to the contravention. The tribunal noted that the impugned order merely stated that the appellant had aided and abetted the transactions and handled money, but did not analyse the evidence supporting that finding. In the absence of such evidentiary reasoning, the finding could not stand, and the penalty was held unsustainable and set aside. en-us Thu, 12 Mar 2026 00:00:00 +0530 Tue, 17 Mar 2026 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788096 An adverse penalty for alleged contravention of the Foreign Exchange Regulation Act, 1973 must rest on a reasoned discussion of the evidence linking the person to the contravention. The tribunal noted that the impugned order merely stated that the appellant had aided and abetted the transactions and handled money, but did not analyse the evidence supporting that finding. In the absence of such evidentiary reasoning, the finding could not stand, and the penalty was held unsustainable and set aside. Case-Laws FEMA Thu, 12 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788096