The assessee had filed returns for the assessment years 1993-94, 1994-95, 1995-96 and 1996-97 which were accepted. There was a search \u00a0action in December, 1995. Proceedings were initiated under S. \u00a0158BC. Additions were made on the basis of excess stock discovered. Complaints were filed under S.\u00a0276C(1)\u00a0and 277 read with S\u00a0278B. On a writ \u00a0the Court held that \u00a0the order of block assessment referred to difference in stock found during the course of search. The assessee had an explanation for it which was rejected. On the facts of this case, it could not be said that with mala fide intention and to evade tax, stock in the stock book was not shown by the assessee. Accordingly the criminal complaint was quashed. (AY. 1993-94 to 1996-97)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 277 : Offences and prosecutions-False statement\u2013Verification\u2013 Search-Additions made in block assessment based on discrepancy in stocks \u2014Prosecution is not valid. [S. 132, 136, 158BC, 276C(1), 278B, CRPC, 1973, S. 482, IPC 193]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7654","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1Zs","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=7654"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7654\/revisions"}],"predecessor-version":[{"id":7655,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7654\/revisions\/7655"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=7654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=7654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=7654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}