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2023 (8) TMI 401 - BOMBAY HIGH COURTProfessional Negligence - abetting in evasion of Central Excise and Customs duties - Removal of Chartered Accountant (CA) from the list of Members for a period of three months - if Solvency Certificate did not contain the details of the property, how did the Excise Department accept said Solvency Certificate and in two months allowed exports to such extent where duty involved was about Rs. 86 lakhs? HELD THAT:- Respondent has also stated that there was no statutory requirement that the name and addresses of the properties or investments should have been mentioned in the Certificate and it seemed to be a deep rooted conspiracy by the excise duty evaders and the officers concerned and that they are now ganging up to pass on the blame to an innocent Chartered Accountant. Respondent has also denied that he was careless in his duties. We also wonder, if the Solvency Certificate was acceptable when it was filed, certainly it cannot become unacceptable during the course of carrying out investigation. Even as per the statement of Respondent recorded by Complainant, Respondent has categorically stated that he relied on certain documents produced by Shri Dhanraj Sodhi before issuing a Solvency Certificate It is observed that Respondent had taken adequate precaution before issuing Solvency Certificate. On the basis of this complaint, Respondent cannot be held guilty of any professional negligence - This Reference disposed off by issuing a reprimand to Respondent.
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