https://www.taxtmi.com/caselaws?id=20696 The court quashed the prosecution proceedings against the petitioner, an assessee facing income tax prosecution under sections 276C(1) and 277 of the Income-tax Act, 1961. Despite the Income tax Appellate Tribunal setting aside the penalty and finding the petitioner's explanations satisfactory, the Commissioner of Income-tax rejected the waiver of penalty application. The court upheld the Tribunal's decision, stating that as long as it stands, a criminal court cannot reach a contrary conclusion. The prosecution proceedings were quashed without prejudice to potential re-initiation if the Tribunal's order is set aside in further proceedings. en-us Mon, 29 Mar 1993 00:00:00 +0530 Mon, 16 Nov 2009 16:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20696 The court quashed the prosecution proceedings against the petitioner, an assessee facing income tax prosecution under sections 276C(1) and 277 of the Income-tax Act, 1961. Despite the Income tax Appellate Tribunal setting aside the penalty and finding the petitioner's explanations satisfactory, the Commissioner of Income-tax rejected the waiver of penalty application. The court upheld the Tribunal's decision, stating that as long as it stands, a criminal court cannot reach a contrary conclusion. The prosecution proceedings were quashed without prejudice to potential re-initiation if the Tribunal's order is set aside in further proceedings. Case-Laws Income Tax Mon, 29 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20696