Criminal proceedings were initiated against the assessee under section 276CC of the Income-tax Act, 1961 for failure to file the revised Income-tax return within time. The High Court, refused to quash the prosecution proceedings. On appeal, the Court held that allowing the appeal, that continuing the criminal proceedings would be unnecessary. The assessee did in fact file the revised Income-tax return, and penalty proceedings which were initiated against the assessee had been dropped. As a consequence, refund was also ordered. Considering the facts of the case in their totality, the order of the High Court was to be set aside, and consequently, the criminal proceedings initiated under section 276CC of the Act, 1961 against the assessee, quashed.(AY. 2012-13)