TMI Blog2001 (7) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... 378 of the Code of Criminal Procedure, 1973, are rendered by the Additional Chief Judicial Magistrate (Economic Offence), Indore, in Criminal Cases Nos. 36 of 1988, 39 of 1988 and 95 of 1990, acquitting accused-respondents of the charges under sections 276DD and 278DD read with section 269SS of the Income-tax Act, 1961 (for short, "the Act"). Although the trial court below has recorded an acqu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prosecutions. Section 278B is merely an enabling section to create vicarious liability on companies of the offences committed by the directors. This section by itself creates no offence but makes the company liable for the offence punishable under section 276DD. The Supreme Court in Kolhapur Canesugar Works Ltd. v. Union of India, AIR 2000 SC 811, held: "The position is well-known that at com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... particular pro vision in a statute is omitted and in its place another provision dealing with the same contingency is introduced without a saving clause in favour of pending proceedings then it can be reasonably inferred that the intention of the Legislature is that the pending proceeding shall not continue but a fresh proceeding for the same purpose may be initiated under the new provision." F ..... X X X X Extracts X X X X X X X X Extracts X X X X
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