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Learn More88. HansaMetallics Ltd. vs. Dy. CIT
[2025] 472 ITR 737 (P&H)
A. Y. 2012-13
Date of order: 22nd January, 2024
S. 276C of ITA 1961
Offences and Prosecution — Wilful attempt to evade tax — Delay in payment of tax does not amount to evasion of tax — Prosecution not valid:
The Assessee filed its return of income for A. Y. 2012-13 on 29th December, 2012 declaring total income at ₹8,20,53,544. As per the return of income, the self-assessment tax was pending. The self-assessment tax was paid belatedly on 10th July, 2013 along with interest.
The Assessing Officer issued a notice dated 11th February, 2014 requiring the Assessee and its directors to show cause as to why the prosecution proceedings u/s. 276C(2) should not be initiated. On the basis of legal opinion sought from the standing counsel of the Income-tax Department, a complaint was filed u/s. 276C read with section 278B of the Act.
Thereafter, the Criminal Court came to the conclusion that a case was made out and charges were framed.