Summary
The Court upheld the High Court’s rejection of professional-misconduct findings against a chartered accountant. There was no proof that the units paid more than the certified CIF values, and their witness said the accounting records existed. The complainant and committee had not called for those records.
Issues
- Whether the record supported adverse findings about valuation certificates and absence of accounting books.
Held
- Imported origin did not itself establish that purchasing units paid customs duty or amounts exceeding CIF values or purchase vouchers. No adverse inference against the accountant followed without supporting material. (¶ 6)
- The sole witness stated that books and records were available in Bombay. Since neither the complainant nor the committee called for them, alleged non-maintenance could not support an adverse inference. (¶ 7–9)
Result
Institute’s appeal dismissed; parties to bear their own costs.