2011 (5) TMI 519

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..... the Director of procuring invoices without actually receiving any goods, separate penalty can always be imposed on the Director. Thus do not agree with the Commissioner(Appeals)'s observation that simultaneous penalty on company and its Director cannot be imposed. Thus Commissioner(Appeals)'s order setting aside penalty on the respondent is set aside and in this regard the Order-In-Original of De .....

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..... 50,000/- on Shri Yatin Bansal, Director, Aman Alloys P.Ltd. On appeal to Commissioner (Appeals), Commissioner(Appeals) vide Order-In-Appeal dated 25.08.09 while upholding the Cenvat Credit demand and penalty on M/s Aman Alloys P.Ltd., set aside the penalty on Shri Yatin Bansal, Director on the ground that separate penalty on company and its Director is not imposable. Against this order of the Comm .....

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..... . 5. This is a case of availing of Cenvat Credit by fraudulent means on the basis of bogus invoices procured without actually receiving any material. Such transactions are not possible without the knowledge of Director of the company. The company and its Director are two different entities and in view of the role played by the Director of procuring invoices without actually receiving any goods .....

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