2024 (8) TMI 570 - SCH - Income Tax

Validity of rejection of the declarations filed by petitioner under the DTVSV Act - prosecution u/s. 276C(2) of the Income Tax Act - whether the provisions of DTVSV Act shall apply to petitioner? - HC 2023 (9) TMI 894 - BOMBAY HIGH COURT decided as u/s 9(a)(ii) of DTVSV Act, the only exclusion visualised is a pendency of prosecution in respect of tax arrear relatable to an assessment year as on the date of filing the declaration and not pendency of a prosecution in respect of an assessment year on any issue. In the petition before us also prosecution has been instituted against petitioner u/s 276C(2) - Therefore, in our view, Macrotech 2021 (3) TMI 1089 - BOMBAY HIGH COURT will squarely apply to the facts and circumstances of this case. The declaration of petitioner filed on 31st January 2021 for Assessment Years 2010-2011 and 2011-2012 would have to be decided by respondent no. 1 in conformity with the provisions of DTVSV Act. HELD THAT - We are not inclined to interfere with the impugned judgment, as the criminal prosecution relates to a different subject matters. Hence, the present special leave petition is dismissed. We, however, clarify that the impugned judgment and the dismissal of the present special leave petition will not, in any way, affect the criminal prosecution.