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TMI Blog2017 (7) TMI 752X X X X Extracts X X X X X X X X Extracts X X X X ..... ce imported value of the raw materials should have been shown as value of the raw materials and not the CIF value - also, it was alleged that the units did not maintain any record for past production, still the certificates were issued which shows that the figures were manipulated and the certificates issued were not correct - Held that: - the High Court has considered the statements made on behal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d against appellant. - Civil Appeal No. 10326 of 2011 - - - Dated:- 11-7-2017 - Mr. R. K. Agrawal And Mr. Abhay Manohar Sapre JJ. JUDGMENT R.K. AGRAWAL, J. 1. The present appeal arises out of the order dated 12.08.2004 passed by the Division Bench of the High Court of Judicature at Bombay in Chartered Accountants Reference No.5/2000. 2. Disciplinary action was taken against the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opinion and found him guilty of professional misconduct within the meaning of Clauses (7) and (8) of Part I of the Second Schedule to the Chartered Accountants Act, 1949 read with Sections 21 and 22 of the said Act. The matter was thereafter placed before the Council of the Institute of Chartered Accountants of India, hereinafter referred to as the 'Council'. The Council, after considering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent to hold that there is no material on record to establish that the units had paid an amount more than what was mentioned in the CIF value or purchase vouchers and merely because the sellers from whom the units had purchased the goods had imported the same, it does not mean that the units in question had paid the custom duty. Thus, no adverse inference can be drawn against the Respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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