9911796707
TMI Blog2004 (4) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal, while setting aside the finding recorded by the assessing authority about the making of false statement in respect of the income-tax return, then the criminal proceedings launched on the same ground can no longer be sustained - This petition is allowed and the complaint under sections 276C and 277 and all the consequential proceedings are hereby quashed. It is, however, made clear that in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... through his counsel filed a reply and submitted that the return already filed by the petitioner be treated as reply to the notice. The assessing authority completed the assessment of the petitioner by making certain additions for the G aforesaid assessment year. In respect of the said additions, the assessing authority vide its order dated March 15, 1989, imposed a penalty upon the petitioner unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, no fresh order of penalty has been passed, therefore, the prosecution launched by the assessing authority is liable to be quashed. Learned counsel for the petitioner contends that this petition is squarely covered by the decisions of the hon'ble Supreme Court in G.L. Didwania v. ITO [1997] 224 ITR 687 and K.C. Builders, v. Asst. C1T [2004] 265 1TR 562. In the aforesaid judgments, it has bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rity/Tribunal that there is no concealment of income becomes devoid of jurisdiction. Once the finding of concealment and subsequent levy of penalties under section 271(1)(c) has been struck down by the Tribunal, the assessing authority has no other alternative except to correct his order under section 154 of the Act as per the directions of the Tribunal. It was further held that even if the charge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eedings in case the penalty is imposed in future. In view of the aforesaid, this petition is allowed and the complaint dated March 30, 1992 (annexure P3), filed against the petitioner under sections 276C and 277 of the Act and all the consequential proceedings are hereby quashed. It is, however, made clear that in case the assessing authority imposes a penalty in the matter remanded by the Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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