Black Money Case: Madras HC extends relief to Chidambaram’s family

Black Money Case: Madras HC extends relief to Chidambaram’s family

Agency News

Chennai, Oct 12: Providing more relief, the Madras High Court on Friday extended till November two, its order dispensing with the personal appearances of Senior Congress leader and former Union Minister P Chidambaram’s family members before the EOW Court, Egmore in the foreign assets non-disclosure case filed by the IT department.

A Division Bench comprising Mr Justice S Manikumar and Justice Subramonium Prasad, has already reserved its orders on the petitions filed by Mr Chidambaram’s wife Nalini son Karti Chidambaram and daughter-in-law Srinidhi, challenging the prosecution initiated by the IT department under the Black Money Act.The Income-Tax authorities had filed a complaint against them over alleged non-disclosure of overseas assets, under Section 50 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act.

The case against them was that they failed to disclose a property they jointly own in Cambridge in the UK, worth Rs. 5.37 crore.Apart from this, the department has alleged that Karti Chidambaram had failed to disclose an overseas bank account he holds with Metro Bank in the UK and investments he had made in Nano Holdings LLC, USA. In addition to this, Karti also failed to disclose investments made by Chess Global Advisory, a company co-owned by him which amounts to an offence under the Black Money Act, the department said in its complaint.

Assailing the IT department's charge, the trio moved the High Court seeking an interim order staying the prosecution, contending that only a special court established under the Black Money Act was competent to take complaints under the Act and not the EOW court, Egmore.

They contended that Moreover, the authority who has ordered sanction for the prosecution, has no such authority under the Income Tax Act, following which the Division Bench had reserved its orders.

In the meanwhile, the High Court had on September 14 passed an interim order dispensing with the personal appearance of the trio till today and when their pleas came up for hearing it was further extended till November two. (UNI)