Law:

Section:

Section 276C of the Income-tax Act, 1961 - Offences and prosecution - Wilful attempt to evade tax, etc. - Assessment years 1985-86 and 1986-87 - Tribunal set aside penalty levied under section 271(1)(c) holding that case of deliberate concealment of income was not made out - Whether in view of Tribunal's finding, very foundation of prosecution of respondent-assessee for offence under section 276C stood demolished - Held, yes - Whether Court below was, therefore, justified in acquitting accused-respondent and, hence, appeal against acquittal deserved fate of dismissal - Held, yes CASES REFERRED TO Sureshchandra Gupta v. Union of India 1998 (1) MPLJ 49 and G.L. Didwania v. ITO [1997] 224 ITR 687 (SC). R.L. Jain for the Appellant. H.S. Oberai and P. Prasad for the Respondent. JUDGMENT 1. This order shall govern the disposal of the aforesaid two appeals filed on behalf of Union of India respectively against the order dated 24-11-1992 passed by the Additional Chief Judicial Magistrate (Economic Offences), Indore in Criminal Case No. 57/90 and Criminal Case No. 56/90 whereby the accused respondent was acquitted of the offence under section 276C of the Income-tax Act (for short the Act). 2. For both the aforesaid appeals the facts in brief are that-the res-pondent-assessee filed returns of her income for the assessment years 1985-86 and 1986-87 on 31-3-1997 showing her income respectively Rs. 16,676 and Rs. 19,890 for the aforesaid period. The assessment was completed on 21-7-1987 and thereafter a notice under section 148 of the Act was issued to the respondent-assessee, as it was found that the assessee has not disclosed the income received by her by way of rent from the house property of Rs. 40,000 in reply to the aforesaid notice, the assessee filed additional returns for both the assessment years, offering to pay the tax on the income received by way of rent from the house property. The Assessing Officer opined that the assessee has deliberately concealed the income from the house property for the assessment years 1985-86 and 1986-87, with the intention to escape from the payment of tax on the said income. The Assessing Officer imposed a penalty of Rs. 20,000 and…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492