The Income Tax Department (TN & P), Chennai has got two convictions being its seventh and eighth conviction of the financial year 2023-24 against two individual assessees for offences committed under the Income Tax Act, 1961. Shri Dilipkumar Mehta and Shri Praveen Kumar Mehta were convicted by the ACJM, E.O.-I, Chennai for wilful failure to file return of income of the Act, wilful evasion of tax, wilful failure of payment of tax and for false statement/verification under provisions of Sec.276CC, 276C(1), 276C(2) & 277 respectively of the Income Tax Act, 1961.

 

Prosecution complaints for the assessment year 2013-14 were filed against the above assessees by the Department during the year 2016 in the Economic Offences Court, Chennai as the assessees had failed to file returns of income for the AY 2013-14 admitting the capital gains earned on the sale consideration received of Rs.6.30 crores on sale of immovable property and did not pay the tax liability arising out of the transaction. Further, the assessees had falsely claimed that the taxes on the capital gains had been paid while actually no payment of tax was made in the return of income filed belatedly for the AY 2013-14. The Hon’ble EO Court framed the charges after taking cognisance of the offences committed by the assessees.

 

After appreciating the evidences brought on record by the prosecution, the Hon’ble Addl. Chief Metropolitan Magistrate, Economic Offences-I, Chennai has vide order dated 27.09.2023 held that all the offences stood proved against both the assessees and passed order convicting the assessees. Shri. L. Muralikrishnan, Special Public Prosecutor represented the Department in the prosecution proceedings in both these cases.

 

Both the assessees were convicted and sentenced independently to undergo R.I for 2 years and to pay a fine of Rs.50,000/- for each of the offence committed u/s.276CC & 277 and to undergo R.I. for 2 years and pay fine of Rs.25,000/- for each of the offence committed u/s.276C(1) & 276C(2) of the Act. The sentences were ordered to run concurrently.

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(Release ID: 1966354)