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2023 (7) TMI 1283 - HC - Income TaxPenalty u/s 271(1)(c) - Offences u/s 276 C(1) and 277 - petitioners have not explained the source of income for incurring cash expenses - Tribunal factually found that there is no material for cash payment made by the petitioners and in these circumstances, allowed the Appeal - HELD THAT:- As applying the ratio laid down in Radheshyam Kejriwal's case [2011 (2) TMI 154 - SUPREME COURT] when the findings of the Income Tax Appellate Tribunal are in favour of the petitioners, a criminal prosecution on the same set of facts is not maintainable and is unsustainable and the same is liable to be quashed. Decided in favour of assessee.
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