S. 276C: Offences and prosecutions – Wilful attempt to evade tax – Bogus purchase – Estimate of 12.5 per cent of Bogus Purchase upheld by CIT(A) and ITAT – No penalty was levied -High Court held that prima facie ingredients of offenses are satisfied – Assessee has wilfully and intentionally evaded his tax liability- Writ petition to quash the prosecution was dismissed . [S. 148, 279(1), Art. 226 Code of Criminal Procedure, 1973, S. 482 ]
Nayan Jayantilal Balu v. UOI (Bom)(HC) www.itatonline .org