Income tax dept. moves Courts to claim Rs 4Cr in tax evasion
October, 12th 2010
Income Tax Department has moved the Bombay High Court to claim Rs four crore from actor Salman Khan in a tax evasion case while challenging an order of the appellate body which absolved him from paying the amount.
The petition will come up for hearing in due course before a bench headed by Justice V V Daga.
The Income Tax had charged the actor with evading tax to the tune of Rs four crore for assessment year 2000-2001.
The actor had declared his income as Rs 9.32 crore during the same financial year. However, Income Tax department found his income to the tune of Rs 13.61 crore and informed the actor about the reassessment.
Being aggrieved, Salman challenged the assessment order before the Commissioner of Income Tax (appeals) who ruled in his favour.
The Income Tax department then filed an appeal in Income Tax Appellate Tribunal (ITAT) which in June last year dismissed it, giving relief to the actor.
Finally, the Income Tax department approached the High Court to set aside the ITAT order and grant a stay on the implementation of this order.
The Court will give its ruling after hearing both the sides.