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I-T Dept demands Rs 4,800 cr tax from Sahara India

Last Updated: Thursday, July 3, 2014 - 20:51

Zee Media Burea

New Delhi: The Income Tax (I-T) Department on Thursday moved Supreme Court claiming Rs 4,800 crore tax from the group.

Meanwhile, Sahara had deposited Rs 3,117 crore with the market regulator SEBI and had promised to pay the remaining Rs 1,883 crore soon.

Also, the I-T department filed an application seeking Tax Deducted at Source dues (TDS) worth Rs 5,000 crore from the company.

The Supreme Court has urged the market regulator to be more proactive in this case in terms of ensuring more safeguards.

The court had earlier refused to relax the conditions — depositing Rs 5,000 crore in cash and Rs 5,000 crore through bank guarantee with SEBI — for his interim bail.

The Supreme Court will be hearing the plea for the release of Subrata Roy on Friday.

Sahara Chief Subrata Roy, who has been in jail for the last four months, on Thursday pleaded before the Supreme Court to allow him parole for at least 40 days to sell his properties to raise Rs 10,000 crore to get bail and expressed his willingness to dispose of luxury hotels in New York and London.

A bench headed by Justice T S Thakur, however, raised apprehension on Sahara selling international properties and asked the company to first dispose of its assets which are in the country.

First Published: Thursday, July 3, 2014 - 20:51
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