RAVI MEDICAL AGENCIES Vs. UNION OF INDIA

JUDGEMENT

(1.) THE judgment impugned in this revision is rendered in appeal, in affirmance of the judgment of conviction passed by the ACJM, Indore, in Economic Offence Case No. 14 of 1991, convicting the applicants under Section 276C read with Section 278B of the Income-tax Act, 1961, and sentencing them to various punishments.

(2.) THE violation in question pertained to the assessment year 1988-89. THE Department besides launching criminal prosecution also initiated proceedings for imposition of penalty under Section 271(1)(c) of the Act. THE penalty was imposed by the assessing authority on August 3, 1990. However, in appeal the Commissioner of Income-tax (Appeals) vide his judgment dated December 10, 1997, vacated the penalty. THE order of the Commissioner of Income-tax is affirmed in appeal by the Appellate Tribunal vide judgment dated January 31, 2001.