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2014 (8) TMI 538 - AT - Central ExciseImposition of personal penalty - Shortage in stock - Clandestine removal of goods - Held that:- There is no debar for imposition of separate penalties on the Directors, subject to the prejudice finding of their role in the clandestine activities of the company. In the present case when incriminating documents were recovered and seized under the cover of panchnama Shri Gajjadhar Jhanwar in his statement agreed with the same and also appended his signature in the panchnama. When the said facts were put to the other Director, Shri Narayan Prasad Jhanwar, he also agreed with the contents of the panchnama and clarified that the quantity stand cleared without issuing the invoices. These facts sufficiently clarify that present two appellants were aware of the clandestine activities of the company in which case penalties imposed upon them is called for. As such, I find no justification for setting aside the penalties upon the present appellants - Decided against the appellants.
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