Out-of-court settlement likely in Jaya I-T case
An 18-year-old income tax case against AIADMK supremo J Jayalalithaa and her friend Sasikala is likely to come to an end with the Central Board of Direct Taxes accepting her plea for compounding the offence and settling the matter with a fine.india Updated: Nov 30, 2014 02:12 IST
An 18-year-old income tax case against AIADMK supremo J Jayalalithaa and her friend Sasikala is likely to come to an end with the Central Board of Direct Taxes (CBDT) accepting her plea for compounding the offence and settling the matter with a fine.
This has raised speculations that the All India Anna Dravida Munnetra Kazhagam (AIADMK) could be supporting the Bharatiya Janata Party in Parliament.
At the next hearing of the case in Egmore lower court slated on Monday, the I-T department that launched the proceedings against Jayalalithaa and Sasikala for non-filing of tax returns for two years, would inform about the development.
Jayalalithaa had appealed for compounding of the case and expressed willingness to pay the fine the proceedings against her in the case could be withdrawn, sources said.
Sources said the Income Tax Appellate Tribunal has agreed to compound offences against Jayalalithsa, Sasikala, Jaya Publications and Sasi Enterprises for non-filing of I-T returns for the 1992-93 and 1993-94 fiscals.
A fine of Rs 2 crore is to be imposed sources said. The trial against both the accused in this regard is likely to come to an end next week.
The trial is being conducted in Egmore, based on the order of the Supreme Court in February this year.
The Egmore court had earlier ordered compulsory appearance of both the accused and justice KBK Vasuki had exempted personal appearance.