Petitioners accused of offences u/ss 276C(1) r.w.s. 277 of the ...

Alleged capital gains tax evasion by underreporting sale consideration, HC declines to quash complaint.

January 15, 2025

Case Laws Income Tax HC

Petitioners accused of offences u/ss 276C(1) r.w.s. 277 of the Income Tax Act, 1961 for evading capital gains tax by showing only part sale consideration in sale deed while remaining amount paid in cash. HC declined to exercise inherent powers u/s 482 CrPC to quash complaint, holding allegations disclose cognizable offences. Power to quash FIR/complaint an exception, not ordinary rule, to be exercised in rarest of rare cases when allegations do not constitute cognizable offence.

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Petitioners accused of offences u/ss 276C(1) r.w.s. 277 of the ...

Alleged capital gains tax evasion by underreporting sale consideration, HC declines to quash complaint.

January 15, 2025

Case Laws Income Tax HC

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