2000 (2) TMI 32 - HC - Income Tax

Summary

The High Court of Bombay quashed a complaint against a petitioner under sections 276C and 277 of the Income-tax Act, 1961, as the Departmental authorities found no concealment or discrepancy in the valuation of closing stock for the assessment year 1979-80. The court ruled that the criminal court can independently decide the allegations without reference to the findings of the appellate authority. The petition was allowed, and the complaint was quashed. (2000 (2) TMI 32 - BOMBAY High Court)