Businessmen got 5 years RIGOROUS imprisonment for not filing income tax return

Businessmen got 5 years RIGOROUS imprisonment for not filing income tax return

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Chennai: Non-filling of IT returns to the tune of Rs. 10 Lakh almost 21 year ago landed a businessman behind bars on Wednesday.

Additional chief metropolitan magistrate EOW-I (incharge), S Malarmathi sent Thirupathy Kumar Khemka, Director of NEPC group of companies and M/s. Sai Television Limited in Kolkata, to 5-year RI and imposed Rs. 11 Lakh fine Thirupathy had failed to file his IT return during 1997-1998. He was convinced under Section 276(1),277, 276CC, 275D of Income Tax Act,1961.

For the wilful attempt to evade tax by concealing the investment, Khemka was awarded 5-year RI and imposed 5 lakh fine and for making false statements on verification, he was given 3-year RI and Imposed 2 lakh fine against, for failure to furnish return of income, he was awarded 2 year RI and 2 lakh fine, for making false statement during examination, he was given 1 year RI and 2 lakh fine and for filing to furnished accounts and documents, Khemka was warded 6-month RI. All the sentences will run concurrently.

If the assessee fails to pay the fine, he shall have ,to undergo three-months imprisonment for every conviction. Khemka was dent puzhal prison.

Special public Prosecutor N Baskaran appeared for the income tax while counsels S R rangunathan and P.Elango represented Khemka. Baskaran said “This is the fisrt case to convict aperson for non-filing of IT return and has given the maximum punishment of five years.”

Khemka has concealed the fact of collecting 10 lakh against the issue of one lakh share each having a face value of 10 lakh during 1997-98 assessment year .

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