2001 (7) TMI 53 - HC - Income Tax

Summary

The High Court of Madhya Pradesh acquitted accused-respondents of charges under sections 276DD and 278DD read with section 269SS of the Income-tax Act, 1961. The court found the prosecutions were invalid after the amendment Act of 1987 omitted section 276DD without a saving clause for pending cases. The judgment of acquittal was upheld based on this legal ground. The appeals were dismissed.