1998 (7) TMI 67

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....s, Dhanbad, has taken cognizance against the petitioners under sections 276C and 277 of the Income-tax Act, 1961. Petitioner No. 1, Kailash Stone Works, is a registered firm at Pakur in the district of Sahebganj and the other petitioners are its partners. The petitioners derive income from manufacture and sale of stone chips. On November 30, 1990, the petitioners filed a return showing a total i....

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....enses Rs. 86,763. Examination of the account books revealed that no proper vouchers were maintained. The complaint was filed by the Income-tax Officer, Deoghar, before the Special Court of Economic Offences, Dhanbad. The complaint petition also mentioned that the penalty proceeding under section 271(1)(c) has also been initiated. According to the complaint petition, the petitioners had wilfully ....