Assistant Director filed a complaint against assessee-company for offences punishable under sections 276C(1) and 278B. High Court held that once sanction under section 279(1) has been given to a particular authority, i.e., Deputy Director, prosecution has to be launched by him alone and not by the Assistant Director, who did not have power to launch prosecution proceedings. High Court held that since sanction under Section 279(1) was accorded to the Deputy Director for initiating prosecution against the assessee and not to the Assistant Director, proceedings against the assessee on the file of the Special Judge for Economic Offences were quashed. Court also held that it was noted that, in accordance with Section 93 of the Finance (No.2) Act, 2024, full and final settlement of the subject matter of prosecution was arrived at between the revenue and the assessee. Therefore, having regard to the settlement arrived at between the revenue and the assessee, the issue was to be left open to be considered in an appropriate case, and SLP was to be disposed of with the observation that the judgment was not to be treated as precedent for any purpose.