HC EXTENDS INTERIM RELIEF TO ANIL AMBANI IN TAX EVASION CASE

MUMBAI: The Bombay high court (HC) on Thursday extended its earlier order till December 19, directing the Income Tax department to not take any coercive action against Reliance ADAG group chairman Anil Ambani on a show-cause notice seeking to prosecute him under the Black Money Act.

The order was extended by a division bench of justices SV Gangapurwala and SG Dige after the I-T department sought more time to file its affidavit in response to Ambani’s petition challenging the notice.

When the petition came up for hearing for the first time on September 26, the HC had granted time till November 17 to file its affidavit and had asked it to not take any coercive action against Ambani till then. The I-T department had issued a notice to Ambani on August 8, 2022, for allegedly evading ₹420 crore in taxes on undisclosed funds worth more than ₹814 crore held in two Swiss bank accounts.