Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
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HC held that once ITAT, as final fact-finding authority, has deleted penalty u/s 271AAB on merits by holding that there was neither concealment of income nor satisfaction of conditions for penalty, the factual foundation for prosecution u/s 276C(1)(i) disappears. Since both penalty and prosecution were based on identical allegations of concealment and willful attempt to evade tax arising from the same search, the criminal case could not be sustained. Pendency of the revenue's appeal u/s 260A, in absence of any stay on the ITAT order, did not bar exercise of inherent jurisdiction. HC, invoking Section 482 CrPC, quashed the prosecution as abuse of process.
HC held that once ITAT, as final fact-finding authority, has deleted penalty u/s 271AAB on merits by holding that there was neither concealment of income nor satisfaction of conditions for penalty, the factual foundation for prosecution u/s 276C(1)(i) disappears. Since both penalty and prosecution were based on identical allegations of concealment and willful attempt to evade tax arising from the same search, the criminal case could not be sustained. Pendency of the revenue's appeal u/s 260A, in absence of any stay on the ITAT order, did not bar exercise of inherent jurisdiction. HC, invoking Section 482 CrPC, quashed the prosecution as abuse of process.
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