Adobe Ceo gets a notice from taxman

The Income-Tax Department has served a notice on Naresh Gupta, the CEO of Adobe India, who paid a Rs 50-lakh ransom to kidnappers for the release of his three-year-old son Anant last month.

The Income-Tax Department has served a notice on Naresh Gupta, the CEO of Adobe India, who paid a Rs 50-lakh ransom to kidnappers for the release of his three-year-old son Anant last month.

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Sources said Amar Vir Singh, additional income-tax commissioner, Ghaziabad, had asked Gupta for details about the account from which the ransom amount was paid. Gupta has been given time till December 28 to pass on the information.

The department is also said to have sought details about Gupta’s property and bank balance to determine if the ransom money was part of any hidden income.

Anant, kidnapped on November 14, was released on November 17. Later, the ransom amount was recovered by the police from Kakode village, Gautam Buddha Nagar. The kidnappers were arrested.

SSP R.K.S. Rathore said the Rs 47.5 lakh recovered from the kidnappers were deposited in the court. “Gupta can get the money from the court if the judges agree. For this he has to make an application and promise to produce the amount before the court as evidence when demanded,” he said.