Tumakuru bizman held for Rs 7.35-cr tax default

Tumakuru bizman held for Rs 7.35-cr tax default

A Tumakuru-based businessman was arrested for non-payment of Rs 7.35 crore income tax dues and interest.

I-T officials said the businessman was given 17 opportunities but the defaulter did not appear.

The businessman appeared before the Tax Recovery Officer (TRO) in October 2018, only after a show-cause notice was issued to him, asking why a warrant to arrest should not be executed.

The TRO gave the businessman yet another opportunity to clear the dues. He came to the officer after another notice was issued in December.

“The defaulter appeared before the TRO and said he has to receive money from a particular debtor, which will be remitted towards outstanding (tax dues)... Subsequent enquiries revealed that the defaulter had already received Rs 1 crore from the debtor but did not pay any part of the taxes and utilised the amount for other purposes,” an I-T release said.

Noting that the defaulter failed to pay the taxes, he was sent to the Parappana Agrahara Central Jail in Bengaluru.