Prosecution u/s. 276C(1) cannot be continued as penalty proceedings u/s. 276C(1) already terminated

Pradeep Dayanand Kothari Vs DCIT (Madras High Court) Madras High Court held that prosecution initiated for the offence punishable under Section 276C(1) of the Act cannot be continued, in the light of the penalty proceedings initiated under Section 276C(1) of the Act have been already terminated by the Appellate Tribunal. Facts- The second respondent lodged a complaint against the petitioner for the offences alleged u/s. 276C (1) & 277 of the Income Tax Act, 1961. It is alleged that the petitioner had carried out certain transactions through an undeclared account, but these transactions wer...