TMI Blog2020 (3) TMI 1175X X X X Extracts X X X X X X X X Extracts X X X X ..... filed return of income on 31.01.2014. Thereafter, it was returned on 31.03.2015 directing the petitioner to pay a sum of ₹ 4,08,04,345/-. Thereafter, the petitioner paid tax as demanded by the respondent on 13.03.2018, for which the respondent also issued a letter on 24.03.2018 acknowledging the receipt of tax. Provision to punish the accused, there must be wilful attempt to evade payment of tax, he must be in possession of the book with false entries, the person should have made false entries in the book of accounts and omitting any entry in the statement of accounts. The petitioner voluntarily disclosed the undisclosed income to the respondent on the inspection conducted u/s 132 on 18.12.2012. Therefore, there is no intention fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Commissioner of Income Tax, Central Circle, Chennai. A search has been conducted under Section 132 of Income Tax Act on 18.12.2012 and during the search, the petitioner disclosed undisclosed income of ₹ 10,00,00,000/- for the assessment year 2013-2014. Further, it was noticed that the accused did not file his return of income for the assessment year 2013-2014 as required under Section 139 (1) of the Income Act. He ought to have filed return of income on or before 05.08.2013. But he belatedly filed his return of income for the assessment year 2013-2014 only on 31.01.2014 admitting his entire income of ₹ 10,17,53,890/- Thus, it is the act of the willful failure on the part of the petitioner for non payment of huge tax liability, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rson wilfully attempts in any manner whatsoever to evade the payment of any tax, penalty or interest under this Act, he shall, without prejudice to any penalty that may be imposable on him under any other provision of this Act, be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to three years and shall, in the discretion of the court, also be liable to fine. Explanation For the purpose of this section, a wilful attempt to evade any tax, penalty or interest chargeable or imposable under this Act or the payment thereof shall include a case where any person- (i) has in his possession or control any books of account or other documents (being books of account or other docume ..... X X X X Extracts X X X X X X X X Extracts X X X X
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