A.K.Dutta, J. - (1.) The instant Revisional Application, along with three other Applications, being Criminal Revision Nos. 1175, 1176 and 1177 of 1991 under Section 482 of the Code of Criminal Procedure are all directed against the order dated 18/3/1991 passed by the learned Chief Metropolitan Magistrate at Calcutta in case No. C/573 of 1991 directing issue of processes against all the accused-petitioners therein under Sections 276C(l) and 277 of the Income Tax Act praying for quashing the said proceedings on the grounds set forth therein.
(2.) M/s. Warren Tea Ltd. (hereinafter referred to as Company) had filed its Return on 29/8/1986 in form No. 1 under Section 139(1) of the Income Tax Act (hereinafter referred to as Act) relating to its previous year ending on 31st March, 1986 for the Assessment year 1986-87, duly verified and signed by the accused-petitioner No. 8, Sri P.K. Bose, in the office of the Deputy Commissioner of Income Tax, Special Range-2, Calcutta. The Company had shown in the said Return an amount of Rs. 6,02,22,478/- only under the heading profit before taxation as per profit and loss accounts for the year ended on 31st March, 1986. The Company in the said Return had shown various other income from different sources, and had claimed deduction for the total amount of Rs. 44,40,706/- under four different Heads, as indicated below, under the various provisions of the Income Tax Act JUDGEMENT_59_CRIMES3_1994Html1.htm The Company had finally shown an amount of Rs. 2,29,17,870.00 (rounded up) as its total income upon which it was liable to pay income tax.
(3.) The Assessing Officer had completed the assessment proceeding and had made assessment for the year 1986-87 under Section 143(3) of the I.T. Act on 31/3/1989 after obtaining various details and explanatory statements from the Company upon issue of notice under Section 143(2) of the Act. In his aforesaid Assessment Order, he had disallowed certain claims of the Company for deduction of different amounts on different Heads either wholly or in part, and had assessed a total amount of Rs. 2,95,44,923/- as taxable income. While communicating the Assessment Order to the Company on 25/4/1989 (beyond the statutory period), the Assessing Officer, along with the Assessment Order, had issued notices under Sections 274/271 and 273(1) of the Act initiating penalty proceedings against the company in connection with its Return submitted for the Assessment year 1986-87.;