1994 (1) TMI 78

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....A-4 to A-8 in a complaint filed by a Deputy Commissioner of Income-tax before the Court of the Additional Chief judicial Magistrate (Economic Offences), Ernakulam, for offences under sections 276C and 277 read with section 278B of the Income-tax Act, 1961. The learned Chief judicial Magistrate, upon the complaint, took cognizance of the offences and issued process to the petitioners. They have fil....

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....t since the assessment became final by treating the aforesaid claim as baseless, prosecution could be sustained notwithstanding the finding made by the Income-tax Appellate Tribunal in penalty proceedings. Learned counsel for the petitioners cited the decision of the Punjab and Haryana High Court in Parkash Chand v. ITO [1982] 134 ITR 8. It was a similar case in which prosecution proceedings we....

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....lar prosecution proceeding on the premise that with the annulment of the penalty proceedings there was no case to launch a criminal prosecution against an assessee. The learned judge repelling the contention that the criminal court has to arrive at an independent finding de hors the annulment of the penalty proceedings, pointed out that "the court's time is precious and is not meant to be employed....