1998 (7) TMI 67 - HC - Income Tax

Summary

The High Court of Patna quashed the cognizance taken against the petitioners under sections 276C and 277 of the Income-tax Act, 1961. The penalty for concealment of income was cancelled by the Commissioner of Income-tax (Appeals) and upheld by the Appellate Tribunal, leading to the quashing of the prosecution against the petitioners.