Case Law Details
Fusion Engineering Products Vs Union of India (Jharkhand High Court)
Introduction: The case of Fusion Engineering Products vs. Union of India, heard in the Jharkhand High Court, revolves around allegations of a delay in depositing Tax Deducted at Source (TDS) and whether Section 278AA of the Income Tax Act applies due to the pendency of BIFR (Board for Industrial and Financial Reconstruction) proceedings. This article provides a detailed analysis of the case and its implications.
Background: Fusion Engineering Products Ltd, through its Director Jyotirmoy Ghosh, sought to quash the entire criminal proceeding, including the order taking cognizance under Section 276B of the Income Tax Act, 1961, in connection with the delay in depositing TDS.
Delay in TDS Deposit: The prosecution’s complaint alleged a delay in depositing TDS of Rs. 2,89,844 for the Financial Year 2011-12 and assessment year 2012-13. According to the prosecution, the amount was deposited after the stipulated time of seven days from the following month.
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