Asking advice for ipc 408

Respected Sir, IPC 408. case in lower court. dates started. company cheque has been withdrawn in my personal account amounting 6,75,000/-. there are 2 cheqes. 1 cheque in month of june-13 & other Nov-13. i was the employee of the firm. i left firm in the month of aug-13 with prior 1 month notice and also got the exp letter. company file complaint case against me. what you will suggest the best. i told that they given me cheque i deposited and withdrawn the amt and paid back to them. copmany in practice they were booked the purchase bills paid them cheq and take back the cash for the FY 12-13. near about 2.25 cr transaction done by them. is there any hope for me in punishment. or how many years would i get the punishment as law says its max 7 years. i have the dates in december. company director not read to do settlement on the same. i have decided to inform the Income Tax department for the Income tax theft for FY 2012-13 what they were doing . is it ok. or this will help in my case.