Income Tax Officer vs Jyothi Coconut Merchants & Ors.
Whether a company, being a juridical person, is liable for prosecution for an offence under the provisions of the IT Act? --- Held Yes. Whether a company, being a juridical person and incapable of being put to bodily punishment like sentence of imprisonment, can be sentenced to fine only though the punitive provision in the tax law contemplates imposition of a minimum sentence of imprisonment and also fine? --- Held Yes.
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