ARUN KUMAR SOGANI Vs. STATE OF RAJASTHAN

JUDGEMENT

(1.) COMPLAINTS under Sections 276B and 278B of the Income-tax Act, 1961, have been filed against the accused petitioners who are partners of the firm, Universal Supply Corporation. Eight complaints have been lodged because, according to the contention of the Department, the petitioners failed to deposit tax which was deducted by them while paying interest to eight creditors. The total amount of such tax deducted comes to Rs. 1,33,810. This tax has to be deducted in accordance with the provisions of Section 194A of the Income-tax Act. The petitioners admit that this tax was not initially deposited with the Department but it has been subsequently deposited within four months along with in unrest at 15% per annum as is provided under Section 201(1A) of the Income-tax Act. The total interest deposited is Rs. 6,686. It is, in these circumstances, that these applications for grant of anticipatory bail moved by the petitioners are to be considered. On the complaints, the Chief Judicial Magistrate (Economic Offences), Jaipur, has issued non-bailable warrants for the arrest of these petitioners.

(2.) LEARNED counsel for the petitioners has contended that due to mistake, the amount deducted by way of tax was not deposited within time and now the same has been deposited along with interest and it can be said that the petitioners are not liable for the payment of any sum of money now. So far, notice for imposing penalty as provided in Section 221 of the Income-tax Act has also not been issued. According to learned counsel for the petitioners, the tax along with interest was deposited soon after the mistake came to their notice.