https://www.taxtmi.com/caselaws?id=426793 The court in E.O.C.C.No.12 of 2018 quashed the prosecution, ruling that the accused did not willfully evade tax or make false statements under Sections 276C(1) and 277 of the Income Tax Act. The court found the accused's claim for exemption under Section 54F was made in good faith, with no evidence of fraudulent intent or concealment. Emphasizing the importance of proving willful intent in tax evasion cases, the court relied on the ITAT's findings and legal precedents to support its decision, highlighting that a genuine but rejected claim does not amount to evasion or false statement. en-us Tue, 16 Aug 2022 00:00:00 +0530 Mon, 17 Oct 2022 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426793 The court in E.O.C.C.No.12 of 2018 quashed the prosecution, ruling that the accused did not willfully evade tax or make false statements under Sections 276C(1) and 277 of the Income Tax Act. The court found the accused's claim for exemption under Section 54F was made in good faith, with no evidence of fraudulent intent or concealment. Emphasizing the importance of proving willful intent in tax evasion cases, the court relied on the ITAT's findings and legal precedents to support its decision, highlighting that a genuine but rejected claim does not amount to evasion or false statement. Case-Laws Income Tax Tue, 16 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426793