Dabur's Burman seeks stay on I-T department's case
Dabur's Burman seeks stay on I-T department's casebusiness Updated: Jan 27, 2015 23:12 IST
After being denied bail twice, Dabur promoter Pradip Burman on Tuesday approached a Delhi Court requesting a stay of the tax evasion proceedings against him initiated by the Income Tax department late last year.
According to sources, Burman filed an application before Additional Chief Metropolitan Magistrate (ACMM) Devendra Kumar Sharma on the grounds that the criminal case against him must be stayed till his appeal in a related matter, which is pending before the Institution of Commissioner of Income-tax (Appeals) [CIT (A)], has been disposed of.
The CIT is the first appellate authority, brought in under the Income-tax Act, 1961.
After accepting the application, the court has asked I-T’s standing counsel Brijesh Garg to file his objections against it by February 4.
According to sources, Burman has already admitted to having undeclared foreign bank accounts, and has also agreed to pay the back taxes and penalties. His appeal in CIT is on a limited point of the exchange rate at which he must pay, they added.
Facing prosecution under the IT Act for allegedly holding undisclosed foreign bank account, Burman had twice denied permission to travel to Hong Kong as India has no extradition treaty with it.