District Court : Convicts assessee & directors u/s 276C/D, penalty deletion on technical ground not savior

Jun 26,2018

Delhi District Court convicts assessee-company and its directors  u/s. 276C / 276D for willful attempt to evade tax by underreporting of income; Rejects assessee's stand that since penalty u/s. 271(1)(c) was deleted by ITAT in adjudication proceedings, the prosecution cannot be sustained against it; Court observes that the deletion of penalty by ITAT was not on merits but was on technical ground of non-striking off of the words 'concealment/ inaccur...

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