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2010 (7) TMI 393 - CESTAT, BANGALOREPenalty on managing director – Undervaluation - evidences proved that excess amount has been collected by the persons authorized by the appellant - charge of under valuation has attained finality (though by way of technical dismissal of the appeal filed by the Company), the current appellant being the Managing Director of the said Company during the relevant period, cannot run away from his responsibilities as a Managing Director – no record to indicate that the current appellant had in fact tried to stop this kind of activity undertaken by the Company and its staff – in the absence of any evidence – Appeal rejected
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