Tax case: No arrest for Anil Ambani till Nov 17

September 26, 2022 13:38

Bombay High Court gives relief to Reliance Group Chairman Anil Ambani in an alleged Rs 420 crore tax evasion matter. The HC has asked the income tax department not to take coercive action against Anil Ambani until 17th November.

The income tax department has sought to prosecute Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.

The department has charged Anil Ambani, 63, with "willful" evasion, saying he "intentionally" did not disclose his foreign bank account details and financial interests to Indian tax authorities.

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