HC notice to Purti Group firm on I-T plea in tax case

P6.jpg

The Mumbai high court bench has issued a notice to a sugar firm linked to BJP leader Nitin Gadkari-founded Purti Group on an income-tax department appeal in a case of submission of alleged incorrect financial details.

A division bench comprising justices Bhushan Dharmadhikari and Atul Chandurkar on Thursday asked Purti Sakhar Karkhana to file a reply before September 5 on the appeal filed by commissioner of income-tax Mayank Priyadarshi.

Four more such appeals by the I-T department against Purti are likely to come up for hearing next week.

After the I-T appellate tribunal ruled in Purti’s favour in a tax evasion case, the department filed five different appeals in the Nagpur bench of the high court.

The case related to the period between 2001 and 2007 when Purti is alleged to have submitted incorrect financial details following which it was asked to pay a penalty of Rs 4-5 crore.

According to I-T counsel, Purti Sakhar had allegedly submitted incorrect particulars of income from 2001-02 to 2006-07. The department conducted search operations in 2006 and issued notice to the firm on March 23, 2007.

In its reply, Purti Group submitted the particulars of income. However, the department maintained those were not properly accounted for.

After an enquiry, the department officials found that there was a variation of Rs 10.5 crore in income under the “capital work in progress” head. Purti admitted to it and agreed to pay the required tax.

The department, however, levied a penalty to the tune of Rs 4 crore-5 crore on the company. Purti challenged the decision in the commissioner of income tax (CIT) appeals which ruled in its favour by deleting the penalty on May 28, 2010.

The department went in appeal before I-T appellate tribunal (ITAT) but it was dismissed on December 12, 2012. The income tax authorities then approached the HC contending that Purti had furnished inaccurate particulars of income.

When contacted, Purti Group public relations officer Nitin Kulkarni said they were yet to receive the notice.

Gadkari resigned as BJP president in January this year after Purti Group companies faced allegations of dubious fundings and came under the I-T department scanner.

Post new comment

<form action="/comment/reply/242459" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-38860437a556e6a0c721628747cd202a" value="form-38860437a556e6a0c721628747cd202a" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="81147219" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.