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TMI Blog2016 (11) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... . Karkare. The individuals namely Ms. Meena Bhandare, Ms. Bhagyashree Joshi and Shri Ajay Balbhar have categorically stated that Shri Sanjay V. Karkare was directing them to manipulate and to record the transactions in respect of sales of the Company. I am not convinced that Shri Sanjay V. Karkare has any case in his favour in respect of non-imposition of any penalties. Accordingly in the facts a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Biradar, Advocate Ms Pooja Reddy, Advocate for appellant Shri N.N. Prabhudesai, Supdt. (AR) for respondent ORDER These two appeals are directed against Order-in-Original No. 03/Commr/M-II/2010 dated 17.03.2010. 2. By the impugned order, adjudicating authority has imposed penalty of ₹ 1 lakh on Shri Sanjay V. Karkare and penalty of ₹ 50,000/- Smt. Geetu Sanjay Gidwani ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be set aside and I do so. 7. As regards the penalty imposed on Shri Sanjay V. Gidwani, I find that the adjudicating authority has relied upon the statements of Ms. Meena Bhandare, Ms. Bhagyashree Joshi and Shri Ajay Balbhar and had come to a conclusion that Shri Sanjay V. Karkare had played a role in the clandestine removal of the goods and under-valuation of the goods. 7.1 Learned Counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ri Sanjay V. Karkare was the person who was guiding them to prepare two different set of invoices on the same goods and also any amount collected by cash was retained by these persons. 8.3 On perusal of records and findings of the adjudicating authority I do find that the adjudicating authority has attributed a direct role played by Shri Sanjay V. Karkare. The individuals namely Ms. Meena ..... X X X X Extracts X X X X X X X X Extracts X X X X
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