2017 (7) TMI 752

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....the High Court of Judicature at Bombay in Chartered Accountants Reference No.5/2000. 2. Disciplinary action was taken against the Respondent herein for issuing certificates for consumption of raw materials showing the value of imported raw material as CIF value to the units without seeing the records since imported value of the raw materials should have been shown as value of the raw materials an....

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....he Institute of Chartered Accountants of India, hereinafter referred to as the 'Council'. The Council, after considering the submission of the Respondent herein, vide order dated 17th January, 1998 agreed with the findings of Disciplinary Committee and decided to recommend to the High Court that the Respondent be reprimanded. 4. We have heard learned counsel for the Appellant. Nobody has ....

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....t mean that the units in question had paid the custom duty. Thus, no adverse inference can be drawn against the Respondent on this ground. 7. So far as non-maintenance of books of accounts by the units is concerned, the High Court has held that it is also without any substance as it has found that the only witness examined before the Disciplinary Committee Mr. Phillips, proprietor of M/s. Progres....