2005 (7) TMI 737

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.... Gadoo ORDER 1. These are appeals against Adjudication Order No. ADJ/17-B/AAO/SB/ 2005/6092 dated 21-2-2005 passed by Additional Commissioner of Income-tax, working as Adjudicating Authority, imposing a penalty of Rs. 20 lakhs on Appellant-company (Appeal No. 321/2005) and Rs. 5 lakhs on other Appellant (Appeal No. 322/2005) as Director of the first Appellant for contravention of the provisi....

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....04, it comes out that the item Nos. 1, 2, 3, 5, 6 & 7 of the Adjudication Order are found mentioned in the RBI's letter. The amounts and dates described therein fully tally. Similarly, the letter dated 9-12-2004 by and authorized banker, i.e., ING Vysya Bank Ltd., at page 31 of the records has confirmed receipt of the bill of entry and exchange control copy with regard to remittance described in I....