O. Panneerselvam withdraws the case against the Income Tax Department “Rs. 82 crores should be taxed”.
During the raids conducted by the Income Tax Department at the house and offices of businessman Shekhar Reddy, some documents were seized. Based on this, the Income Tax Department sent a notice to former Chief Minister O. Panneerselvam. 20 lakh rupees for the assessment year 2015-16 and Rs 82.12 crore for the assessment year 2017-18.
A case was filed in the Madras High Court by Panneerselvam seeking a stay of proceedings against the notice and its cancellation. The High Court heard the case and refused to stay the notice of the Income Tax Department and ordered that all proceedings including the assessment order of the Income Tax Department are subject to the final judgment of the case.
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In this case, when the case came up for hearing again today before Judge Abdul Kuddoos, Panneerselvam’s side requested that the petition be allowed to be withdrawn as he has appealed to the Income Tax Department against the notice of the Income Tax Department. Accepting this, Judge Abdul Quddoos allowed and ordered the withdrawal of the petition.
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