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Bengaluru Businessman Held for Defaulting Income Tax Payment With Arrears of Rs 11.94 Cr

The tax audit deadline has been extended to October 31, 2020 from September 30, 2020.

The tax audit deadline has been extended to October 31, 2020 from September 30, 2020.

In a press release, the income tax department said the business was arrested by the Tax Recovery Officer (TRO) on Monday when he was about to leave India from the international Airport in Mumbai.

Bengaluru: A city-based businessman, who has defaulted on income tax payments with arrears of Rs 11.94 crore plus interest, was on Tuesday detained to a civil prison at Parappana Agrahara Central Jail for six months for failing to make satisfactory arrangement for payment of arrears, officials said.

In a press release, the income tax department said the business was arrested by the Tax Recovery Officer (TRO) on Monday when he was about to leave India from the international Airport in Mumbai.

He was produced before the Tax Recovery Officer-6 in Bengaluru on Tuesday, following which he was committed to civil prison for six months.

"The said income tax defaulter was intercepted at Chhatrapati Shivaji Mumbai International Airport at 2.30 am on Monday. He owed income tax and penalty arrears of Rs 11.94 crores plus interest," said the I-T Department without divulging the name of the person.

Besides non-payment of due taxes, the defaulter was found to have illegally transferred property situated at Yeshwanthpur.

In the case of income tax evasion, tax recovery officers can attach and sell the movable property of the accused, arrest and detain the person in prison and appoint a receiver to manage the defaulter's business.

However, in this case the sale of immovable property was obstructed by the defaulter.