Law:

Section:

Section 276C of the Income-tax Act, 1961 - Offences and prosecution - Wilful attempt to evade tax, etc. - Assessment years 1987-88 to 1997-98 - During search, some documents pertaining to OP-assessee, partner of firm B, were seized and notices were sent to all partners of B - In view of failure by assessee (accused) to comply with notice, assessment was made under section 144 and amount of tax payable by firm was determined - During financial year 1992-93, firm claimed purchases of medicines which were found bogus, as admitted by one of partners of firm - A show-cause notice was issued to all partners of firm under sections 276C, 277 and 278 but there was no response - Complaint case was instituted for offence under said sections against firm and its partners - Additional Sessions Judge rejected prayer of OP - assessee for regular bail - However, OP was granted bail by High Court on 30-4-2001 - Whether in view of fact that undisclosed investments had been assessed substantively in hands of father of OP because he was one of partners of firm and same investments had been assessed in hands of OP on protective basis, and also in view of fact that assessment order in respect of OP for assessment year 1997-98 had been set aside in appeal and OP was said to be in jail custody since 7-11-2000, bail was rightly granted - Held, yes FACTS The OP-assessee was one of the partners of 'B'. During the course of search in 'S' pharmaceuticals, some documents pertaining to the assessee were seized. In view of the failure by the assessee to comply with the notice under section 158BC, read with sections 158BD and 142(1), the assessment was made under section 144 and the amount of tax payable by the firm was determined. One of the partners had admitted that some of the purchases of medicines made by the firm during the financial year 1992-93 were bogus. In the assessment order of the firm for the block period 1987-88 to 1997-98, it had been established beyond doubt that supplies of the medicines and cattle feed to the Animal Husbandry Department, as claimed by the firm in the returns of income filed earlier, were never made and that wrong claim of expenses was made on the basis of…

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