Ex-minister loses appeal in tax returns case
A division bench of the Madras high court has directed former agriculture minister Ku Pa Krishnan to appear before the assessing officer of the income tax department and present his case all over again.
In August 1996, the I-T department estimated that Krishnan, who was the agriculture minister in 1991-96 AIADMK government, had accumulated an undisclosed income of 5.4 crore. The Income Tax Appellate Tribunal (ITAT) revised the estimate to 64.98 lakh (64,98,721), based on documents submitted by Krishnan as fresh evidence.
Now, Justice D Murugesan and Justice PPS Janarthana Raja has set aside the tribunal's order and ruled that fresh evidence needs to be re-considered and remitted the matter back to the assessing officer to pass orders.
Though the former minister was arrested in September 1996 and released on bail later, he did not file any clarification or reply to the various notices seeking an explanation about the various investments.
Ultimately, the assessing officer determined the total amount of undisclosed income to be a little over 5.4 crore. Krishnan went on appeal to the ITAT.
Category : Income Tax | Comments : 0 | Hits : 359
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