https://www.taxtmi.com/highlights?id=99534 Statements recorded under Customs law were treated as admissible in FEMA adjudication where they related to the same transaction; mere retraction did not make them involuntary when they were confirmed before two authorities, no coercion was shown, and the statements were supported by documentary evidence. A Customs settlement granting immunity from penalty and prosecution did not bar separate FEMA action for contravention of foreign exchange law arising from under-invoiced imports and compensatory cash payments. The Tribunal affirmed contravention of FEMA and liability of the individual appellant, but reduced the penalties on proportionality and adjusted the pre-deposit. en-us Thu, 07 May 2026 07:08:04 +0530 Thu, 07 May 2026 07:08:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=99534 Statements recorded under Customs law were treated as admissible in FEMA adjudication where they related to the same transaction; mere retraction did not make them involuntary when they were confirmed before two authorities, no coercion was shown, and the statements were supported by documentary evidence. A Customs settlement granting immunity from penalty and prosecution did not bar separate FEMA action for contravention of foreign exchange law arising from under-invoiced imports and compensatory cash payments. The Tribunal affirmed contravention of FEMA and liability of the individual appellant, but reduced the penalties on proportionality and adjusted the pre-deposit. Highlights FEMA Thu, 07 May 2026 07:08:04 +0530 https://www.taxtmi.com/highlights?id=99534