Home News Reports Madras HC allows Income Tax department to proceed against Karti Chidambaram under Black Money Act

Madras HC allows Income Tax department to proceed against Karti Chidambaram under Black Money Act

The Madras High Court has allowed the Income Tax department to proceed against Karti Chidambaram and others under the black money act. According to reports, the Madras HC on Thursday granted permission to the I-T department to probe Karti and other directors of the Chess Global Advisory Ltd under the act.

The HC bench comprising Justices V Bharatidasan and N Sheshasayee, however, has reportedly directed the Principal Director of Income -Tax (investigations) to let Karti Chidambaram and the others have a proper opportunity to present their case. The HC bench was hearing a petition filed by Karti and the other directors of the company against a show cause notice issued by the I-T department to them on April 13th. The bench has reportedly posted the matter to June 5th for further hearing.

According to reports, Karti and the other petitioners had also filed another petition challenging the validity of section 50 of the black money act mentioned in the show cause notice against them. The section 50 of the black money act concerns undisclosed foreign assets and income. The Principal Director of the I-T department reportedly had issued a show cause notice to Karti and the others asking why prosecution should not be sanctioned against them under the said act. The alleged undisclosed incomes and assets are related to the investments made by the concerned individuals through the company to Totus Tennis Ltd of UK and Nano Holdings LLC of the US. The petitioners had claimed that the I-T department has issued them the notice despite all the investments, remittances and holdings being disclosed in their I-T returns.

- Advertisement - - Article resumes -

The petitioners had reportedly argued that the black money act can be warranted only if there are ‘undisclosed assets and incomes’. The HC bench in its order has reportedly asked the principal director of I-T to file a counter and proceed with any inquiry or take a decision exercising his powers under the section 55(1) of the black money act.

It is notable here that Karti is already facing probe and is currently on bail in the INX Media case and also under probe in the Aircel-Maxis case. On May 2nd, Delhi’s Patiala House Court had extended his interim protection from arrest till July 10.

Share This Post With Your Friends & Fans:
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Election 2019 Live Updates

Track all the updates on one page as the results and trends trickle in

Shehla Rashid remembers 2014, says she had wanted Kejriwal as PM

Shehla Rashid loses it early on counting day, says “Felt like a Muslim when ‘mass murderer’ won in 2014”

As early trends show an NDA victory, Shehla Rashid calls him a mass murderer, says she had wanted Arvind Kejriwal as PM in 2014 and she had felt like a 'Muslim'.

Live updates: According to EC, BJP leading in 299 seats on their own, clocks victory in 2, taking their tally possibly to 301

Latest results, trends, updates, and news about 2019 Lok Sabha election counting. Find out who will form the next government.
NYT peddles Modi 2.0 as victory of India's most divisive leader

Dear New York Times, India has chosen Modi 2.0, deal with it

When India gives a thumping, unprecedented, overwhelming victory to a man who has made every single Indian feel proud of their nation and heritage, the NYT's heartburn is expected. 
Rana Ayyub had a meltdown seeing BJP securing an unprecedented victory

Unprecedented Modi victory triggers meltdown for controversial journalist Rana Ayyub

Prospect of a stunning Narendra Modi victory in 2019 Lok Sabha election triggered a mental collapse for controversial journalist Rana Ayyub

IIT graduate and an IAS officer explains in detail why EVMs can’t be ‘hacked’ or ‘tampered’ with

Bhavesh Mishra, IAS 2015 batch, B.Tech IIT Delhi, on Quora gave a detailed explanation regarding why EVMs cannot be 'hacked' or 'tampered' with.
Reactions of Liberals after NDA appearing to secure majority

‘Liberals’ have a meltdown as result day trends indicate a massive victory for PM Modi

Trends indicate that Prime Minister Narendra Modi will once again take an oath for the post of Prime Minister. This has not gone down well with the Liberal intelligentsia and they are losing their cool over this prospect

Barkha Dutt expresses deep anguish over the fact that the mainstream media can no longer influence elections

Barkha said it doesn't make her happy that mainstream media cannot influence the voters to vote in a particular way anymore.

AAP’s Sanjay Singh wants Arnab Goswami to either go to a mental asylum, be jailed or drowned

AAP's Sanjay Singh was reacting to a clip by Arnab where he was mocking the Opposition for their EVM drama

Kanhaiya Kumar’s family uses LPG stove to prepare for his victory, contrary to his claims just a few weeks ago

Kanhaiya had claimed that his mother cooked on a Chullah and not on an LPG stove as it was not viable because of being too expensive and also exhausted within 3-4 days.
PM Modi slammed Mayawati for not defending the people of UP and Bihar against TMC government's accusations

23rd May 2019: When the future of Bengal politics was changed forever

Whatever the ultimate result may be, one thing is for certain, going into the 2021 Assembly Elections in the state, for the first time in history, West Bengal will have a party of saffron hue as the primary opposition.
Subscribe to Day's Top Stories

Latest articles

Connect with us

164,481FansLike
141,961FollowersFollow
64,375SubscribersSubscribe
Share This Post With Your Friends & Fans: