1989 (1) TMI 20

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....ccused petitioners who are partners of the firm, Universal Supply Corporation. Eight complaints have been lodged because, according to the contention of the Department, the petitioners failed to deposit tax which was deducted by them while paying interest to eight creditors. The total amount of such tax deducted comes to Rs. 1,33,810. This tax has to be deducted in accordance with the provisions o....

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....t can be said that the petitioners are not liable for the payment of any sum of money now. So far, notice for imposing penalty as provided in section 221 of the Income tax Act has also not been issued. According to learned counsel for the petitioners, the tax along with interest was deposited soon after the mistake came to their notice. At present, the only matter to be decided is whether, in t....

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....eing served with non-bailable warrants on or before February 15, 1989. The bail application of the petitioners is allowed and the non-bailable warrants issued by the Chief Judicial Magistrate (Economic Offences) Jaipur, in Criminal Case No. 10 of 1989 are converted into bailable warrants. The SHO/Arresting Officer/Investigating Officer is, therefore, directed that in the event of arrest in c....