1997 (10) TMI 60

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.... dated March 30, 1992, passed in Complaint Case No. 294 of 1992, taking cognizance under sections 276C and 277 of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), against the petitioners. The complainant-opposite party filed a petition of complaint alleging, inter alia, that the original assessment of the firm was made under section 143(1) of the Act on a total income of Rs. 15,....

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....5, to June 6, 1985, of Rs. 55,247 and expenses were shown as Rs. 8,574 during the said period. Further, advance of Rs. 9,650 was also made to different parties. Rs. 10, 846 was estimated as interest on these advances. The records further showed that the firm has earned interest during the relevant period but did not show it in the relevant documents. Thus, it was alleged that the accused persons w....

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....osecution of petitioner No. 2 is not permissible in law. The case was lodged against the firm, M/s Ganesh Steel Traders, and three partners, namely, Lakhan Lal Sao, Ashok Kumar and Ajay Kumar. This petition has been filed on behalf of the firm and Lakhan Lal Sao. Now, the law is well-settled that in the case of the prosecution under the Act with regard to offence alleged to have been committed ....