NE NEWS SERVICE
CHENNAI, JUNE 7
The Income Tax Department (TN&P), Chennai on Wednesday announced that it has got the first conviction for the financial year 2023-24 on April 11 for willful attempt to evade payment of Income-tax.
“The Additional Chief Metropolitan Magistrate for Economic Offences – I, Chennai has passed order on April 11, 2023 holding the tax defaulter and its directors guilty of the offences charged. The accused company has been convicted and sentenced to pay a fine of Rs 25,000. The Managing Director and the Director of the Company have also been convicted and sentenced to undergo RI for 1 year and to pay fine of Rs 25,000 each,” says a release.
The tax defaulter is a private limited company engaged in civil construction business. The Tax defaulter filed its return of Income for the AY 2017-18 without paying the tax admitted in the return of income and the same remained unpaid till the date of the order of conviction.
A prosecution complaint was filed before the Hon’ble Addl. Chief Metropolitan Magistrate, Economic Offences – I, against the said tax defaulter and its two directors for the offences u/s 276C(2) & 276C(2) r.w.s 278B of IT Act, 1961 for willful evasion of payment of tax. Chief examination of the prosecution witnesses was conducted and charges were framed by the Special Public Prosecutor L Muralikrishnan on behalf of the Department.