SC Quashes 276C Prosecution After Settlement Commission Immunity

Vijay Krishnaswami @ Krishnaswami Vijayakumar Vs Deputy Director of Income Tax (Supreme Court of India) SC Quashes Prosecution u/s 276C Where Settlement Commission Granted Immunity from Penalty – Revenue Acted in Defiance of Its Own Circulars Supreme Court quashed prosecution initiated u/s 276C(1) of the Income-tax Act, 1961 against the appellant for alleged wilful attempt to evade tax in AY 2017-18. A search was conducted on 24.04.2016 at the appellant’s residence, resulting in seizure of unaccounted cash of ₹4.93 crore. Prosecution sanction u/s 279(1) was accorded & complaint filed...