You are here: Home » PTI Stories » National » News
Business Standard

SC seeks response from Chidambaram's wife, son on IT dept plea

Press Trust of India  |  New Delhi 

The Tuesday sought responses from P Chidambaram's wife on an appeal of the Income Tax department against the Madras order quashing criminal prosecution against them in an alleged blackmoney case.

A bench headed by the Ranjan Gogoi, while issuing notices to the two, made it clear that it will not stay the Madras High Court's 2018 order quashing criminal prosecution against the Chidambarams.

The issue relates to alleged non-disclosure of overseas assets and held by Chidambaram's wife, son and daughter-in-law

According to the I-T Department, the three had not disclosed a property they jointly owned in in the UK worth Rs 5.37 crore in their returns which amounted to an offence under the Black Money (Undisclosed Foreign Income and Assets) Act and Imposition of Tax Act.

The Madras on November 2 last year had said no case was made out and quashed the criminal prosecution.

members of the former union had filed writ petitions challenging the criminal prosecution.

The department has also alleged that had not disclosed an he holds with in the UK and investments he had made in Nano Holdings LLC, USA.

He had also "failed" to disclose investments made by Chess Global Advisory, a company co-owned by him, which amounted to committing an offence under the Black Money Act, the department had said in its complaint in the special court in May last year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 16 2019. 12:30 IST
RECOMMENDED FOR YOU