1999 (2) TMI 59

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....d sentence passed in Crl. A. No. 15 of 1995 on the file of the Metropolitan Sessions Judge, Hyderabad. A-1 was found guilty for the offence punishable under section 276C(1) of the Income-tax Act, 1961. An amount of Rs. 2,000 was imposed as fine in default to undergo R.I. for three months. A-8 was found guilty for the offence punishable under section 277 of the Income-tax Act and was sentenced t....

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....respect of Rs. 58,500. The balance of Rs. 60,000 is alleged to have been concealed. The explanation is that out of Rs. 90,000, Rs. 30,000 was accounted for. The balance amount of Rs. 60,000 was held to be not accounted for. The case of the petitioners is that three demand drafts of Rs. 30,000 each were purchased. As earlier stated, the amount of Rs. 30,000 under one demand draft is accounted fo....

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.... exhibit D-3 were produced before Assistant Commissioner (II)(1) and they are in his custody. He clearly stated that the money paid by him was received by Sri Ratanlal Gupta on behalf of A-1 firm. The evidence of DW-2 was not discredited at any measure in the cross-examination. It is not even suggested that the witness was speaking falsehood and the accounts maintained were false. In those circ....