Karti Chidambaram to move Madras HC against trial court's order in Income Tax case

Congress leader Karti Chidambaram and his wife will move Madras High Court against the order of Special Court for Income Tax cases dismissing their pleas seeking to discharge them from prosecution for alleged non-disclosure of income of over Rs 7 crore for the financial year 2015-16.

"The IT department's complaint was based on a notice of re-assessment. The IT department's re-assessment proceedings abated on December 31, 2019. No order of assessment or demand was passed. The complaint is there non-est in law. We will bring this fact to the notice of the trial court and move the Madras High Court against the order of the trial court," read a statement by advocate NRR Arun Natarajan on behalf of Karti and his wife.

"No cash was received in the sale transaction. The entire proceeds have been accounted for and reflected in the books of account and return filed," the statement added.

The case pertains to a land dealing where the I-T department has alleged that the property sold by the duo in 2015 was undervalued and the amount shown on the paper was different.

The IT dept filed a case citing the I-T evasion and deliberate attempts by Karti and his wife Srinidi Rangarajan of selling a property in Chennai. Later, the Special IT Court was constituted to look into the matter.

( With inputs from ANI )