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TMI Blog2024 (9) TMI 1527X X X X Extracts X X X X X X X X Extracts X X X X ..... cute, issued by the Principal Commissioner of Income Tax has dealt this issue and explained that the embargo of Rs. 3000/- in proviso B of Section 276CC of the Income Tax Act applies only in cases where a regular assessment has been framed. However, in the instant case, no regular assessment has been framed for the year in question and therefore relying upon the judgment of Anil Kumar Sinha Vs. Union of India [ 2013 (6) TMI 284 - PATNA HIGH COURT] This Court following the Judgements of Patna High Court rendered in Anil Kumar Sinha Vs. Union of India [SUPRA] and the judgment of CIT Vs. Kerala Chemicals and Proteins Limited [ 2010 (1) TMI 263 - KERALA HIGH COURT] which has clearly dealt with the issue which is now subject matter for considera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hough failed to file his returns within the time stipulated during the said assessment year, he had no taxable income and that has been accepted by the Department by their own proceedings. Further, the alleged income from the sale of ancestral agriculture land been explained in the written submissions. The said income is not taxable and therefore when there is no taxable income for the petitioner during the assessment year, the default in filing the returns within the prescribed time will not lead to criminal prosecution. He further submits that as per the provisions of Income Tax Act, the prosecution is permissible for failure to file income tax returns only. If the tax payable exceeds Rs. 3,000/-. 4. As far as the case of the petitioner i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... instant case, no regular assessment has been framed for the year in question and therefore relying upon the judgment of Patna High Court rendered in Anil Kumar Sinha Vs. Union of India reported in 2013 35 taxmann.com 377 (Patna) which reads as below: February 6, 2013 Section 276CC of the Income -tax Act 1961- Offence and Prosecution- Failure to furnish return of income [Immunity from Settlement Commission] -Search was conducted at business premises of assessee after which he was asked to furnish return of income through several notices-Due to failure of assessee to file return, complaint under Section 276CC was filed-Assessee contended that he had deposited necessary tax with Settlement Commission and had been granted immunity from penalty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under sub section(1) of Section 139 or by notice given under clause (1) of Section 142 of Section 153A, shall be liable for prosecution. In a case where the amount of tax which would have been evaded if the failure had not been discovered exceeding twenty five thousand rupees with rigorous imprisonment for a term which shall not be less than six months and may extend to seven years with fine and in any other case shall not be proceeded against under Section 276CC for failure to furnish the return in due time under sub section (1) of Section 139, in case of any assessment year commencing after the 1 day of April (applicable to the assessee), if a return is furnished by him before expiry of the assessment year or the tax payable by him on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n this case, the complaint has been filed under Section 276 CC which is related to non-filing of return, eventhough on different occasions, notices were given to the petitioners to file necessary return but in spite therefore, the petitioners gave no response which lead to filing of the present case, whereas the issue before the Settlement Commission was with regard to different aspect of the matter, as the petitioners deposited the necessary tax and, thereafter approached the Settlement Commission was with regard to different aspect of the matter, as the petitioners deposited the necessary tax and, therefore, approached the Settlement Commission who found the disclosure made by the petitioners to be true and the assessee was agreed to be t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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