SC commences hearing on Jayalalithaa's IT case
The Supreme Court asked the former Tamil Nadu CM J Jayalalithaa to satisfy it about her source of income, in a case relating to her disclosure of an income of Rs 1.72 crore, for the assessment year 1998-99 under a special scheme.
By PTI |
NEW DELHI: The Supreme Court on Wednesday asked the former Tamil Nadu CM J Jayalalithaa to satisfy it about her source of income, in a case relating to her disclosure of an income of Rs 1.72 crore, for the assessment year 1998-99 under a special scheme.
"Under section 245(c) of the Income Tax Act you have to disclose the source of income. Otherwise we will not interfere with the Madras High Court order," a Bench headed by Justice S H Kapadia said while commencing the final hearing on the appeal filed by the AIADMK Chief.
"You have to give us the facts and figures about the income derived by you," the Bench said when senior advocate Arun Jaitely, appearing for Jayalalithaa started the argument. saying that she has to disclose the source of he income
The former Chief Minister has challenged the High Court judgement setting aside an order by the Income Tax Settlement Commission (ITSC) accepting her application for disclosure of income under the scheme.
While allowing the petition by the Income Tax Department against the order of the ITSC, the High Court had held that the inclusion of the amount in the I-T returns was not a "disclosure" by Jayalalithaa but a discovery by the assessment officer.
The High Court was of the view that AIADMK chief was not entitled to take advantage of section 245 (C) as the amount of Rs 1.72 crore had already been discovered by the assessing authority and added to the total income of the assessee.
It had directed the ITSC to reject the application of Jayalalithaa.
"Under section 245(c) of the Income Tax Act you have to disclose the source of income. Otherwise we will not interfere with the Madras High Court order," a Bench headed by Justice S H Kapadia said while commencing the final hearing on the appeal filed by the AIADMK Chief.
"You have to give us the facts and figures about the income derived by you," the Bench said when senior advocate Arun Jaitely, appearing for Jayalalithaa started the argument. saying that she has to disclose the source of he income
The former Chief Minister has challenged the High Court judgement setting aside an order by the Income Tax Settlement Commission (ITSC) accepting her application for disclosure of income under the scheme.
While allowing the petition by the Income Tax Department against the order of the ITSC, the High Court had held that the inclusion of the amount in the I-T returns was not a "disclosure" by Jayalalithaa but a discovery by the assessment officer.
The High Court was of the view that AIADMK chief was not entitled to take advantage of section 245 (C) as the amount of Rs 1.72 crore had already been discovered by the assessing authority and added to the total income of the assessee.
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It had directed the ITSC to reject the application of Jayalalithaa.
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