2020 (3) TMI 1175

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....the petitioner is an assessee on the file of the Deputy Commissioner of Income Tax, Central Circle, Chennai. A search has been conducted under Section 132 of Income Tax Act on 18.12.2012 and during the search, the petitioner disclosed undisclosed income of Rs. 10,00,00,000/- for the assessment year 2013-2014. Further, it was noticed that the accused did not file his return of income for the assessment year 2013-2014 as required under Section 139 (1) of the Income Act. He ought to have filed return of income on or before 05.08.2013. But he belatedly filed his return of income for the assessment year 2013-2014 only on 31.01.2014 admitting his entire income of Rs. 10,17,53,890/- Thus, it is the act of the willful failure on the part of the pet....

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....x Act, 1995 as follows: "If a person wilfully attempts in any manner whatsoever to evade the payment of any tax, penalty or interest under this Act, he shall, without prejudice to any penalty that may be imposable on him under any other provision of this Act, be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to three years and shall, in the discretion of the court, also be liable to fine. Explanation - For the purpose of this section, a wilful attempt to evade any tax, penalty or interest chargeable or imposable under this Act or the payment thereof shall include a case where any person- (i) has in his possession or control any books of account or other documents (being b....