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2023 (12) TMI 62 - HC - Income TaxOffence punishable u/s 276CC - non filing of income tax return - on receipt of notice u/s 276CC petitioner filed his income of return, accordingly, the petitioner had paid Advance Tax, TDS, TCS, Self Assessment Tax - HELD THAT:- Proviso to Section 276CC gives some relief to genuine assessees. The proviso in clause (ii) of b to Section 276CC provides that if the tax payable determined by regular assessment has reduced by advance tax paid and tax deducted at source does not exceed Rs. 3,000/-, such an assessee shall not be prosecuted for not furnishing the return u/s 139(1) of the Income Tax Act. Therefore, this proviso takes care of genuine assessees who either file the returns belatedly but within the end of the assessment year or those who have paid substantial amounts of their tax dues by prepaid taxes from the rigor of the prosecution u/s 276CC of the Income Tax Act. Admittedly, the petitioner had paid taxes under the Heads of Advance Tax, TDS, TCS, Self Assessment Tax to the tune of Rs. 23,75,066/-. According to his returns, the total tax and interest payable by him is Rs. 23,74,610/-. Therefore, he claimed refund of Rs. 460/- and the proviso (ii) b of Section 276CC comes for rescue of the petitioner from the rigor of the prosecution under Section 276CC of the Income Tax Act. Therefore, the initiation of prosecution for the offence punishable u/s 276CC of the Income Tax Act cannot be sustained as against the petitioner and it is liable to be quashed. Decided in favour of assessee.
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