1991 (10) TMI 32

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..... n 276B of the Income-tax Act, 1961, and he was convicted for the aforesaid offence and sentenced to pay a fine of Rs. 12,000 by the Chief judicial Magistrate, Ludhiana, on September 5, 1985. In appeal, the conviction was set aside by Shri P. C. Singal, Additional Sessions judge, Ludhiana, on the plea that the firm was not juristic person and that the sentence of imprisonment which was also manda .....

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..... hether M/s. Ashok Steel Trading Corporation which in fact is a partnership concern could be prosecuted and punishment imposed notwithstanding the fact that the sentence prescribed under section 276B of the Income-tax Act, 1961, contains imposition of the substantive sentence as well to the extent of six months. On behalf of the accused, attention has been invited to Modi Industries Ltd. v. B. C. .....

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..... irm maintained a legal entity for purposes of tax laws and, obviously, contravention of the requirement of section 276B of the Income-tax Act attracted prosecution as well as punishment. The conclusion is that the appeal is accepted and the judgment of the learned Additional Sessions Judge, Ludhiana, is hereby set aside. The accused is convicted under section 276B of the Income-tax Act, 1961, and .....

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