Customs statements in FEMA adjudication can be relied on; separate foreign exchange contravention survives Customs settlement.

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....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.....