New note order to IT
TT, Calcutta, April 13: Calcutta High Court today directed the income tax department to convert Rs 2.37 crore it had seized from the office of a city-based trader in 2012 into new currency notes from the Reserve Bank of India and keep the cash with it.
Justice Joymalya Bagchi issued the directive on a petition by trader Rajdeep Roy.
Moving the petition on behalf of Roy, advocate Mousumee Shome told the court: "My client is fighting a legal battle with the IT department over the seizure of the money. But the amount seized was in old Rs 1,000 and Rs 500 notes, which the Centre had banned in November last year."
"If my client wins the legal battle, the IT department would have to return the amount. So, the cash should be converted into new Rs 2,000 and Rs 500 notes," the lawyer added.
Appearing for the IT department, additional solicitor-general Kaushik Chanda said: "The court should ask the Reserve Bank of India to convert the money into new notes."
Justice Bagchi then issued the order directing the RBI to convert the cash and asked the IT department to approach the central bank.
0 Response to "New note order to IT"
Post a Comment
Disclaimer Note:
The views expressed in the articles published here are solely those of the author and do not necessarily reflect the official policy, position, or perspective of Kalimpong News or KalimNews. Kalimpong News and KalimNews disclaim all liability for the published or posted articles, news, and information and assume no responsibility for the accuracy or validity of the content.
Kalimpong News is a non-profit online news platform managed by KalimNews and operated under the Kalimpong Press Club.
Comment Policy:
We encourage respectful and constructive discussions. Please ensure decency while commenting and register with your email ID to participate.
Note: only a member of this blog may post a comment.