https://www.taxtmi.com/caselaws?id=450471 Criminal prosecution under the Income-tax Act is not barred merely because connected reassessment or penalty proceedings are pending or had earlier led to deletion of penalty. The Court applied the settled principle that adjudicatory proceedings and criminal prosecution operate independently and may proceed simultaneously, so pendency of tax proceedings does not by itself justify quashing. Quashing is warranted only where the accused has been finally exonerated on merits on the same factual foundation. On the facts, the petitioner had not been so exonerated, and the criminal complaint based on alleged undisclosed jewellery investment was allowed to proceed. en-us Wed, 08 Nov 2023 00:00:00 +0530 Wed, 06 Mar 2024 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450471 Criminal prosecution under the Income-tax Act is not barred merely because connected reassessment or penalty proceedings are pending or had earlier led to deletion of penalty. The Court applied the settled principle that adjudicatory proceedings and criminal prosecution operate independently and may proceed simultaneously, so pendency of tax proceedings does not by itself justify quashing. Quashing is warranted only where the accused has been finally exonerated on merits on the same factual foundation. On the facts, the petitioner had not been so exonerated, and the criminal complaint based on alleged undisclosed jewellery investment was allowed to proceed. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450471