Delhi businessman fails to pay IT return, gets jail term
New Delhi: Tax evasion is rising by the day and should be curbed with a firm hand, a Delhi court has said, sentencing a businessman to a year in jail for not filing income tax return for two years.
Additional Chief Metropolitan Magistrate Devendra Kumar Sharma handed one year rigorous imprisonment to Harish Bhasin, the director of a private company who had failed to file returns for assessment years 2006-07 and 2007-08.
The IT department had submitted that Bhasin was assessed at a taxable income of Rs 11.98 crore for 2006-07 and the tax liability on this amount was somewhere around Rs 4 crore.
For 2007-08, it said, Bhasin`s taxable income was assessed at Rs 34.89,15,858 and the tax liability Rs 10 crore.
Separate cases were filed for both the years. The court sentenced him to six months jail in one case and one year in the second case for repeating the offence.
"Evasion of tax by persons is rising day by day which caused huge loss to the government exchequer and such practice should be curbed with firm hand.
"In this case, the convict was under obligation to file return of income within the prescribed period but he failed to do so," the ACMM said.
His sentences were, however, suspended till September 9 on furnishing a personal bond of Rs 50,000.
The prosecution had said Bhasin had failed to file his returns and despite repeated notices, he did not respond.
Bhasin in his statement to the court, however, claimed that he has certain refunds due from the IT department.
The court, however, noted, "From bare perusal of statement of accused, it appears that he endeavoured to say that he did not file the return of income as certain refunds are due from the IT department.
"In my considered opinion to avail benefits under the law, one has to be vigilant and not to sleep over one`s rights. If the accused has any due/ refund from IT department, he ought to have taken appropriate remedy available as per law. In view of the same, non-filing of return deems to be admitted by him," the court said.
More from India
More from World
More from Sports
More from Entertaiment
- One year of Modi govt: PM promises to fulfil aspirations
- DNA: Sikh man in New Zealand removed his turban to help injured kid
- Watch: Mumbai cops find new secret agents in housewives!
- Hundreds die as heat wave continues in India
- 2G scam: Ex-TRAI chief alleges Manmohan Singh had warned him to cooperate
- DNA: AIIMS doctor removes both kidneys of minor, claims she had only one
- Pranab Mukherjee defends Bofors scam, says it was just a media trial
- Salman Khan attends sister Arpita's wedding reception in Mandi
- Zee Media's mega survey on Modi govt
- Zee Media Exclusive: Vidya Balan chats about 'Hamari Adhuri Kahani'
- Para athlete Deepa Malik complains of callous service by Air India
- Smriti Irani visits Amethi, promises to pay insurance money to 25,000 women
- One year of Modi govt: Amit Shah addresses media
- Mathura rally: PM Modi's ten power-packed dialogues
- BBV: What challenges lie ahead of Modi govt?
- One year of NDA govt: PM Modi writes open letter to nation, promises to transform India
- World optimistic about India: PM Narendra Modi on 1 year of NDA govt
- MSBSHSE Class 12th HSC results 2015 to be declared at 1pm tomorrow
- Arpita-Aayush wedding reception: Salman Khan spreads love in Mandi, says `hum aapke hain`
- Bharatiya Janata Party lacks majority for Ram Temple, Article 370: Amit Shah
- Rahul Gandhi takes a dig at one year of Modi govt, wishes 'happy birthday' to 'suit-boot ki sarkar'
- AAP govt moves resolution against MHA notification: As it happened
- CBSE Class 10 Board Result 2015 (cbse.nic.in, cbseresults.nic.in) postponed?
- Heatwave kills 90 more in Andhra, Telangana; toll crosses 800
- UBSE Results 2015 (ubse.uk.gov.in): Uttarakhand 12th Result 2015 to be announced today at 11 AM
- Gujjars adamant on holding talks in Bayana; rail tracks remain blocked
- CBSE 10th result to be declared tomorrow
- CBSE Class X Board Results 2015 to declared tomorrow
- Check mahresult.nic.in for MSBSHSE Maharashtra Class 12 HSC Result 2015
- Maharashtra MSBSHSE HSC Result 2015 on mahresult.nic.in