The AT found evidence of hawala transactions through a recovered ...

Notebook Evidence Reveals Hawala Transactions, Penalties Adjusted Based on Individual Roles and Involvement Levels

April 30, 2025

Case Laws FEMA AT

The AT found evidence of hawala transactions through a recovered notebook containing daily business accounts, despite the appellant's retraction. The tribunal corroborated the evidence through multiple sources, including witness statements. Cross-examination was deemed unnecessary in quasi-judicial proceedings. The penalties were partially modified: for the primary appellant, penalties were reduced to Rs. 40,00,000 for Section 3(c), Rs. 60,00,000 for Section 3(a), and Rs. 40,00,000 for Section 3(b). For the employee, penalties were substantially reduced to Rs. 90,000 for Section 3(c), Rs. 1,00,000 for Section 3(a), and Rs. 90,000 for Section 3(b), recognizing his limited role in the transactions.

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The AT found evidence of hawala transactions through a recovered ...

Notebook Evidence Reveals Hawala Transactions, Penalties Adjusted Based on Individual Roles and Involvement Levels

April 30, 2025

Case Laws FEMA AT

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