S.B. Criminal Misc.Petition No.620/2004 M/s Khudawadi Sonar Cooperative Society Ltd. & Anr. Vs. State of Raj. Dated : 15.04.2010 HON'BLE MR. MAHESH BHAGWATI,J. Mr. PK Kasliwal, for the petitioners. Mr. JK Singhi, for the respondent- Income Tax Department. *** By way of this criminal misc. petition filed under Section 482 of Cr.P.C., the petitioners have implored to set aside the order dated 29th March, 2004 rendered by Additional Sessions Judge (Essential Commodities Act), Jaipur, whereby the learned Court dismissed the criminal revision, the same being bereft of any merit. Learned counsel for the petitioners submits that the Revenue imposed penalty on the petitioners on account of the fact that they had concealed income. He further submits that the income Tax Appellate Tribunal has ordered to delete the addition on the basis of penalty was imposed. He further canvassed that in the case of K.C. Builders & Anr. Vs. Assistant Commissioner of Income Tax reported in 2004 (I.T.R.)Vol.265 page 562, the Hon'ble Apex Court has observed that once penalties imposed on the assessee under -2- Section 271(1)(c) of the Income-tax Act, 1961, are cancelled on the basis of the conclusive finding of the Appellate Tribunal that there is no concealment of income, prosecution of the assesse for an offence under section 276C for willful evasion of tax cannot be proceeded with thereafter and quashing of the prosecution is automatic. In the light of the judgment of Hon'ble Apex Court, the learned counsel for the petitioners seeks permission to withdraw the Criminal Misc. Petition with the liberty to file fresh application before the competent Court. Permission is granted. Criminal Misc. Petition filed under Section 482 of Cr.P.C. stands dismissed as withdrawn. (MAHESH BHAGWATI)J. Pcg