https://www.taxtmi.com/caselaws?id=13192 The court allowed the revision petition, setting aside the conviction and sentence of the petitioners for concealing income and submitting false returns under Sections 276C(1)(ii) and 277(ii) of the Income-tax Act. The prosecution was deemed invalid following the cancellation of penalty under Section 271(1)(c) by appellate authorities. The court emphasized that the cancellation of the penalty removed the basis for the prosecution, leading to the acquittal of the petitioners and cancellation of their bail bonds. en-us Tue, 22 Feb 2005 00:00:00 +0530 Wed, 27 May 2009 10:42:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13192 The court allowed the revision petition, setting aside the conviction and sentence of the petitioners for concealing income and submitting false returns under Sections 276C(1)(ii) and 277(ii) of the Income-tax Act. The prosecution was deemed invalid following the cancellation of penalty under Section 271(1)(c) by appellate authorities. The court emphasized that the cancellation of the penalty removed the basis for the prosecution, leading to the acquittal of the petitioners and cancellation of their bail bonds. Case-Laws Income Tax Tue, 22 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13192