Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

Sahara Diary: Tax Panel Accepts Firm's Claim Seized Papers Not Evidence

Sahara India has been granted immunity from prosecution and penalty following raids conducted on November 2014 during which “diaries” listing alleged pay-offs to politicians were recovered, The Indian Express reported on Thursday.

News18.com

Updated:January 5, 2017, 11:02 AM IST
facebookTwitterskypewhatsapp
Sahara Diary: Tax Panel Accepts Firm's Claim Seized Papers Not Evidence
An electronic billboard advertising Sahara Group is seen on top of a building (Reuters)
Loading...

New Delhi: Sahara India has been granted immunity from prosecution and penalty following raids conducted on November 2014 during which “diaries” listing alleged pay-offs to politicians were recovered, The Indian Express reported on Thursday.

The 50-page order by the Income Tax Settlement Commission (ITSC) says that the panel agreed with Sahara’s claim that the “evidentiary value" of the “loose sheets” recovered during the raids could not be proved by the Income Tax Department.

The final page of the order states that only Rs 137.58 crore seized during the raids will now be taxed and the company can make the payments in 12 instalments since the company is passing through "difficult times."

According to The Indian Express, the ITSC order came after just three hearings on November 10, 2016. “Usually, the ITSC is given about 18 months to pass the verdict and insiders say rarely is an order passed in less than 10-12 months,” the paper said.

The controversial Sahara diaries that have alleged payoffs to over 100 politicians from more than 14 parties has led to major bickering between the Centre and the Opposition parties.

Delhi chief minister Arvind Kejriwal and Congress Vice President Rahul Gandhi had referred to the Sahara Diaries and alleged that Prime Minister Narendra Modi received pay-offs during his tenure as CM of Gujarat, a charge that BJP dismissed as baseless.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Ananya Chakraborty
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results