1. The above criminal appeals have been directed against the judgment dated 9-5-1987 made respectively in E.O.C.C. No. 1374 to 1380 of 1985 and E.O.C.C. No. 1381 and 1382 of 1985 by the Court of Additional Chief Metropolitan Magistrate, Egmore, Madras, finding the accused therein not guilty of the offences under sections 276-B, and 276-B, read with section 278-B of the Income-tax Act, 1961 ('the Act') and under sections 120-B, 420, and 511 of the IPC in the case concerned with the C.A. No. 524 of 1987 and under sections 276-B and 276-B, read with section 278-B regarding the case concerned with the C.A. No. 525 of 1987. Since the parties and the nature of the offences are one and the same, both the above appeals have been jointly heard and common judgment is delivered herein.

2. The charge, as framed by the Trial Court against the respondents/accused is that A-1 company failed to deduct the full amount of income-tax at source or having deducted failed to remit TDS from the interest amount paid to New India Maritime Agencies (P.) Ltd., represented by the fifth accused as required under section 194-A of the Act, for the financial years ended with 31-12-1973 to 31-12-1979 (i