Court held that as per proviso (ii)(b) to section 276CC if tax payable determined by regular assessment has reduced by advance tax paid and tax deducted at source does not exceed Rs. 3,000, such an assessee shall not be prosecuted for not furnishing return under section 139(1) of the Act. Court held that since petitioner had paid advance tax, TDS, TCS, self-assessment tax, and tax payable by him did not exceed a sum of Rs. 3,000, initiation of prosecution under section 276CC was not sustainable and liable to be quashed.(AY. 2013-14)
Manav Menon v. Dy. CIT(2024) 296 Taxman 275(Mad(HC)
S. 276CC : Offences and prosecutions-Failure to furnish return of income-Tax payable reduced by advance tax paid and tax deducted at source did not exceed Rs. 3,000, initiation of prosecution under section 276CC was not sustainable and liable to be quashed. [S.139]