https://www.taxtmi.com/caselaws?id=446378 The Madras HC quashed prosecution under Section 276CC for non-filing of income tax return. The petitioner filed return after receiving notice and had paid advance tax, TDS, TCS, and self-assessment tax totaling Rs. 23,75,066/- against total liability of Rs. 23,74,610/-, claiming refund of Rs. 460/-. The court held that proviso (ii)(b) to Section 276CC provides relief to genuine assessees who have paid substantial prepaid taxes, protecting them from prosecution rigor when tax payable after adjusting advance tax and TDS doesn't exceed Rs. 3,000/-. The prosecution was deemed unsustainable and quashed in favor of the assessee. en-us Fri, 17 Nov 2023 00:00:00 +0530 Mon, 10 Jun 2024 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446378 The Madras HC quashed prosecution under Section 276CC for non-filing of income tax return. The petitioner filed return after receiving notice and had paid advance tax, TDS, TCS, and self-assessment tax totaling Rs. 23,75,066/- against total liability of Rs. 23,74,610/-, claiming refund of Rs. 460/-. The court held that proviso (ii)(b) to Section 276CC provides relief to genuine assessees who have paid substantial prepaid taxes, protecting them from prosecution rigor when tax payable after adjusting advance tax and TDS doesn't exceed Rs. 3,000/-. The prosecution was deemed unsustainable and quashed in favor of the assessee. Case-Laws Income Tax Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446378