https://www.taxtmi.com/highlights?id=105034 FERA contraventions require the Department to prove both the recovery of currency and its nexus with unauthorised foreign-exchange dealings. Unexamined panch witnesses and a doubtful panchnama left the alleged recovery unproved, while mere possession of currency did not displace a reasonable explanation based on bank and cash-book records. The statutory presumption for seized documents applies only to otherwise admissible material; loose sheets are not books of account and could not be relied upon. A retracted statement requires proof of voluntariness and independent corroboration. The burden to prove permission arises only after proof of an act requiring permission. Penalties and confiscation were set aside, and the appeal was dismissed. en-us Fri, 16 Oct 2026 05:20:55 +0530 Fri, 16 Oct 2026 05:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105034 FERA contraventions require the Department to prove both the recovery of currency and its nexus with unauthorised foreign-exchange dealings. Unexamined panch witnesses and a doubtful panchnama left the alleged recovery unproved, while mere possession of currency did not displace a reasonable explanation based on bank and cash-book records. The statutory presumption for seized documents applies only to otherwise admissible material; loose sheets are not books of account and could not be relied upon. A retracted statement requires proof of voluntariness and independent corroboration. The burden to prove permission arises only after proof of an act requiring permission. Penalties and confiscation were set aside, and the appeal was dismissed. Highlights FEMA Fri, 16 Oct 2026 05:20:55 +0530 https://www.taxtmi.com/highlights?id=105034