Judgment

Dr. AR. Lakshmanan, J.—These appeals are directed against the final judgment passed by the High Court of Judicature at Madras in Criminal Revision Case No. 508 of 1997 and Criminal Misc. Petition No. 3411 of 1997 dated 13.08.1997 by which the High Court dismissed the criminal revision under Section 397 read with Section 401 of the Code of Criminal Procedure, 1973. The facts giving rise to these appeals are as under :-

2. The appellant is a partnership firm engaged in the business of construction and sale of flats. The construction of some of the projects started in the year 1981-82 and was completed in the year 1986-87. The appellants filed the returns of income disclosing the assessed income as the income. The cost of construction was shown as under:-

Assessment Year 1983-84 - Rs. 4,72,860/-

Assessment Year 1984-85 - Rs. 5,77,590/-

Assessment Year 1985-86 - Rs. 7,28,531/-

Assessment Year 1986-87 - Rs. 7,03,002/-

3. The appellants filed revised returns as per the approved valuer’s report for assessment years 1983-84 to 1986-87 on 04.11.1987 in the following manner as the earlier returns were found to be defective with regard to cost of c