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2010 (3) TMI 468 - HC - Income TaxOffences and prosecution- Purchase of immovable property by Central Government. Failure to file Form 37-I. purchase of immovable property by individual and his wife and sale thereof by individual deed. Prosecution launched against an individual and his wife. Held that- property were purchased individually by accused 1 and 2 and they were sold by them under the two independent sale deeds. When the purchase was of two independent units and two distinct persons holding them in their individual capacity had effected sale., it would not be proper to club such two independent purchases and red them as one transaction. The prosecution was not valid.
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