S.C.Vyas, J. - (1.)By this petition filed under S. 482 of the Code of Criminal Procedure the order dated 25.7.05 passed by Chief Judicial Magistrate Ratlam in criminal case No. 15 of 1996 and order dated 14.7.06 passed by Illrd Addl. Sessions Judge Ratlam in criminal revision No. 180 of 05 are called in question with a prayer to quash these orders and to quash the proceedings of criminal case No. 13 of 1990 which is pending in the court of Chief Judicial Magistrate against the present petitioners under Sees. 276-C, 277 read with 278 B of the Income Tax Act 1961. (Hereinafter referred to as the 'Act')
(2.)Short facts of the case are that a private complaint at the instance of Income Tax Officer Ratlam under S. 276-C, 277 read with 278 B of the Act has been filed which was registered and petitioners were summoned. The complaint was filed on the ground that during the accounting year and relevant for assessment year 1980-81, certain income was concealed by petitioners No. 2 & 3, who are the partners of petitioner No.l. Petitioner No.l was engaged in the business of sale and purchase of Timber. The survey was conducted under S. 133 A of the Act and on 30-31st Oct. 1979 stock checking of timbers was carried out arid stock inventory has been prepared. Petitioners were asked to furnish the stock position of the Timber as on 31.10.1979. They had filed their Trading account for the period 1.4.1979 to 31.10.1979 and worked out closing stock of timber at Rs.2,33,982/- and stock of timber was shown as 219.561 Cubic Mtrs. on the date of survey. While according to the Respondent department the stock on the date of survey was arrived at 373.481 Cubic Meters, which valued @ 1,300/- per Cubic Meters. And total value of which arrived at Rs. 4,85,525/-. The assessment was completed under S. 143 (3) read with S.144 B of the Act on 9.8.1983. For the purpose of assessment taking, the average gross profit @ 17%. The Assessing Officer worked out the difference in valuation of closing stock at Rs". 27,985/-
(3.)For suppression of value of closing stock of Rs .27,985/-, penal proceedings under S. 271 (1) of the Act were initiated and prosecution was also launched.