https://www.taxtmi.com/caselaws?id=444573 The court quashed the criminal proceedings under section 276CC of the Income Tax Act, 1961, against the company and its Directors. The proceedings were initiated due to the alleged failure to file tax returns timely, but subsequent appellate and tribunal orders nullified the tax liabilities, granting full relief to the petitioners. The court found no specific allegations against the Directors regarding their involvement in the company's daily operations. Citing a precedent from the SC, the court determined that prosecution was unsustainable once penalties were canceled. The petition was allowed, and the case was disposed of. en-us Tue, 29 Aug 2023 00:00:00 +0530 Wed, 18 Oct 2023 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444573 The court quashed the criminal proceedings under section 276CC of the Income Tax Act, 1961, against the company and its Directors. The proceedings were initiated due to the alleged failure to file tax returns timely, but subsequent appellate and tribunal orders nullified the tax liabilities, granting full relief to the petitioners. The court found no specific allegations against the Directors regarding their involvement in the company's daily operations. Citing a precedent from the SC, the court determined that prosecution was unsustainable once penalties were canceled. The petition was allowed, and the case was disposed of. Case-Laws Income Tax Tue, 29 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444573