Prosecution for tax evasion not sustainable if Penalty been deleted

M/s System India Castings Vs Pr. CIT (Chhattisgarh High Court)

It was mentioned that the assessee has preferred an Appeal against the penalty order before the CIT (Appeals), Raipur, which is pending for decision. When the CIT (Appeals) heard the appeal preferred by the assessee on merits, it reached to the conclusion that the petitioner has not concealed his income, therefore, penalty of Rs.4,26,630/­ deserves to be cancelled. Since the act of concealment of income is the main constituent for charge under Section 276-C and

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