Allowing the petition to quash the prosecution proceedings the Court held that, none of the authorities gave clear finding about evading tax wilfully. Minor lapse on the part of the assessee of not mentioning such a stock, undisclosed income in the facts of this case do not attract launch of prosecution  under S. 276-C(i) and 277 read with S. 278-B of the Act. Accordingly, application is allowed by quashing and setting aside the impugned criminal proceedings launched by respondent and Rule is made absolute.