LAXMI STORES Vs. UNION OF INDIA

JUDGEMENT

(1.) HEARD learned counsel for the parties.

(2.) PETITIONER M/s Laxmi Stores, Udaipur carries on business as dealer of cigarettes at Udaipur. A search of the petitioner-firm was conducted on 9th Jan., 1986 by the authorities of the respondent- Department, in which certain incriminating record was seized relating to charging of 'premium on money' from the retailers. The petitioner-firm had not paid any tax on the above amount nor had shown that income in their return for the asst. yrs. 1985-86, 1986-87, therefore, not only penalty under S. 271(1)(c) was imposed against the petitioner but prosecution under S. 276C of the IT Act was also sanctioned vide orders Annexs. 11 and 12 dt. 8th Feb., 1990. Accordingly, complaint Annex. 13 was filed before the learned Chief Judicial Magistrate (Economic Offences), Jaipur. Hence this petition. This Court, after hearing learned counsel for the petitioner, on 22nd Feb., 1991, stayed the prosecution proceedings referred above.

(3.) LEARNED counsel for the Department is not in a position to controvert the Division Bench judgment referred to hereinabove.