2020 (10) TMI 1266

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....n Kaushal, Advocate For the Respondent-Income Tax Department : Mr. Denesh Goyal, Sr. Standing Counsel ORDER S.N. SATYANARAYANA, J.(ORAL) The petitioners herein are seeking quashing of the complaint dated 02.04.2019 (Annexure P-1) filed under Sections 276-B, 276-C and 277 of the Income Tax Act, 1961 read with Section 417 of IPC, 1860 in Financial Year 2016- 17 and also seeking stay on all conse....

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....served that the grounds urged by the petitioners in contending that when the petitioner has approached settlement commissioner to resolve the matter regarding payment of tax on escaped income, question of initiating proceedings by filing complaint does not arise is not acceptable in the light of judgment reported in 2004 ITR 450 (P&H) as contended by the counsel for the respondent. After going thr....

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....of the Income-tax Act, 1961, against the petitioner-firm on the ground that it had concealed an income of Rs. 3 lakhs while filing its return. The petitioner-firm claimed that they had filed a petition under Section 245C of the Act before the Income-tax Settlement Commission, that the Settlement Commission had admitted the petition and the proceedings before the Commission were allowed to be proce....