Madras HC closes wealth tax case against VK Sasikala

Chennai (Tamil Nadu) [India], August 4 (ANI): The Madras High Court has accepted the income tax department’s statement that it will drop the wealth tax case against former AIADMK leader VK Sasikala, a close aide of late Tamil Nadu Chief Minister J Jayalalithaa’s, and has ordered to close the case against her.
The Income Tax Department has sent a notice to Sasikala for not filing her wealth tax returns for the assessment years 1996-97. It was answered in 2001 by Sasikala’s authorized person.
The Income Tax Appellate Tribunal, which considered and accepted the application filed by Sasikala against this, directed the Assessing Officer to re-assess in accordance with the law and include the loan of Rs 40 lakh in the calculation.
In 2018, a case was filed in the Madras High Court by the Commissioner of Income Tax against this order. A case was also filed against Sasikala’s cousin Elavarasi.
These pending cases were heard by Judges R Mahadevan and Mohammad Sabeeq came back for a hearing today.
The Income Tax department said that based on the circular issued by the Central Board of Direct Taxes to drop cases worth less than one crore rupees, the income tax department will drop the wealth tax action against VK Sasikala and Elavarasi and based on that, they will withdraw the cases.
Accepting this, the judges ordered the income tax department to close the cases filed against Sasikala and her cousin Elavarasi. (ANI)