Excelsior Correspondent
JAMMU, Mar 27: Income Tax Department today attached the properties and bank accounts of a leading businessman of Srinagar for his failure to deposit Rs 19 crore tax.
According to R N Sahay, Principal Commissioner of Income Tax J&K Circle, the sleuths of the department, while exercising powers under Income Tax Act, have attached Cottage Art and Emporium showroom at Boulevard, residential building in Ram Munshi Bagh and bank accounts of a leading businessman namely Haseeb Shah.
“The action has been taken as he has failed to pay tax to the tune of Rs 19 crore despite being given enough opportunity by the department”, he said, adding the businessman was even not responding to the notices of the Income Tax Department.
According to the sources, the demand of Rs 19 crore tax was made by the Income Tax Department on the basis of assessment conducted into deposits made by the businessman in Swiss Bank several years back.
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