Prosecution in absence of willful admits to evade any tax, penalty or interest is unsustainable

Suman Paper & Boards Ltd. Vs JCIT (Gujarat High Court) Gujarat High Court held that as per provisions of section 276-C prosecution can be launched only if there is willful admits to evade any tax, penalty or interest chargeable or imposable under the Income Tax Act. Prosecution in absence of willful admits is unsustainable Facts- The premises of applicant No.1 – a Public Limited Company and its Directors (other applicants) were raided on 1.12.1995 and a search was carried out by the respondent Income Tax Department u/s. 132 of the Income Tax Act. Pursuant to Notice u/s. 158BC of the Inco...