Businessman who owed 12 crore in income tax dues arrested while trying to flee country
A Bengaluru-based businessman was arrested in Mumbai and jailed for six months for allegedly defaulting on income tax arrears of roughly Rs 12 crore.
The businessman was arrested by the Tax Recovery Officer (TRO) on Monday when he was about to leave India from the International Airport in Mumbai, the income tax department said in a press release.
For the first time in Karnataka, a Bengaluru businessman was stopped from leaving the country, the release said.
He was produced before the Tax Recovery Officer-6 in Bengaluru on Tuesday, following which he was committed to civil prison at Parappana Agrahara Central Jail for six months.
“The said income tax defaulter was intercepted at Chhatrapati Shivaji Mumbai International Airport at 2.30 am on Monday. He owed income tax and penalty arrears of Rs 11.94 crores plus interest,” said the I-T Department without divulging the name of the person.
Besides non-payment of due taxes, the defaulter was found to have illegally transferred property situated at Yeshwanthpur.
In the case of income tax evasion, tax recovery officers can attach and sell the movable property of the accused, arrest and detain the person in prison and appoint a receiver to manage the defaulter’s business.
However, in this case, the sale of the immovable property was reportedly obstructed by the defaulter.