Income Tax Panel Admits Sahara Fastest Disposal In 5 Years

The Income Tax Settlement Commission has admitted that, in the last five years, no case has been disposed by it as quickly as the one of Sahara India. And that, in what is a departure from procedure, it did not seek any inquiry from the Income Tax Department for which it had a 90-day period.In a reply to an application filed by The Indian Express under the Right to Information Act, the ITSC confirmed the report published in the newspaper on January 5 on the unusual haste shown in the Sahara India case. In its reply dated January 11, the ITSC said: “Sahara India is one of the quickest disposal of an application by ITSC. During the last 5 years no case has been disposed within the similar time frame.’’ The ITSC granted Sahara India immunity from prosecution and penalty following raids conducted on November 2014 during which “diaries” listing alleged pay-offs to politicians were recovered. Meanwhile, a new Supreme court bench made it clear to Sahara chief Subrata Roy that “enough indulgence” has already been given to him by the apex court and that he would now have to go back to jail in case of any further default in depositing money for refunding investors.

Read More: http://indianexpress.com/article/busi... Indian Express, The Indian Express Newspaper, The Indian Express, Indian express news, indian express editorial Today's Indian Express newspaper offers a comprehensive package of news, including Indian Express editorial analysis and Indian Express analysis today. This well-respected publication covers a wide range of topics in its India Express editorial and Indian Express news sections. Stay informed with the Indian Express newspaper today.