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2018 (1) TMI 1222
Contravention of section 3 FEMA - statement made under oath reliance - Held that:- In harwala transactions, the main aspect is secrecy and stealth. Most of the facts relating to such transactions remain in the knowledge of the persons involved in such transactions. It is difficult for Authorities to unravel every link of such transitions. The burden is on the person to explain; otherwise adverse inference can be drawn based on surrounding facts and circumstances. The appellant is engaged in the money exchange business, real estate brokering and pre-owned car sales. In the case of the appellant, there is a presumption that he has indulged in two transactions and also he was in touch with a person in Dubai as per his own statement though retracted later on. A statement made under oath has to be taken as true, unless there is contra evidence to dispel that presumption. Mere retraction of a statement made under oath cannot help the appellant to get relief from the consequences of violations of an act.
Thus the elements of contravention of section 3 FEMA have been established in the present case. As considering the financial condition of the appellant, the penalty amount is reduced to ₹ 2 lac as agreed by the appellant to deposit within eight weeks from today. Let the appeal be dispose of on these terms by modifying the impugned order by reducing the penalty 50% of the penalty imposed only to this extent.
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2018 (1) TMI 568
Brother of the present respondent was detained under the provisions COFEPOSA Act - Held that:- No substance in any such ground for the simple reason that the law is well settled as interpreted and decided by the Honourable Supreme Court. The petitioner has also tried to compare several other judgments and Special Act like TADA and NDPS Act to plead and to induce by this Court to believe that it would be difficult to get direct evidence to control grave offence and, therefore, burden of proof rests upon respondents to prove that what is pleaded by the authority is not correct rather than to ask the authority to prove that what is pleaded by them is correct fact. It is difficult to believe such submission.
Petitioner has gone to the extent of challenging the impugned order by describing it as a non speaking order when it is pleaded that the Appellate Tribunal has neither considered the issue raised by the petitioner nor discussed the fact of the case. As already recorded herein above and perusal of impugned judgment, makes it very much clear that the factual details are well discussed in such judgment and all issues are properly dealt with and answered by the Appellate Tribunal with reasonings and citations of relevant cases. Therefore, there is no substance in the petition when it is trying to misguide the judicial proceedings.
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2018 (1) TMI 221
Application for dispensation and directing appellant to deposit 10% of the penalty amount and to furnish a credible security for the balance 50% - Held that:- On the one hand the appellant contends its financial credibility and on the other hand undue economic hardship. The Tribunal has waived off substantial pre-deposit and has directed only 10% of the penalty amount to be deposited with a surety for the balance 50% which cannot be said to be undue hardship on the appellant. Considering its own claim of financial stability, on the facts of the case this Court finds no error in the impugned order.
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