Vijay vs I-T Dept: Madras High Court Upholds Rs.1.5 Crore Income Tax Penalty, Dismisses TVK Chief’s Plea

Today, On 6th February, The Madras High Court dismissed actor Vijay’s plea challenging the Rs.1.5 crore income tax penalty. The penalty stemmed from 2015 searches at his premises that allegedly uncovered around Rs.16 crore in undisclosed income by the Income Tax Department.

Delhi High Court Quashes IT Reassessment Notices Against NDTV Founders Prannoy Roy and Radhika Roy

Today, On 19th January, Delhi High Court quashed IT reassessment notices issued to NDTV founders Prannoy Roy and Radhika Roy, also imposing a Rs.2 lakh penalty. The case concerned interest-free loans advanced to RRPR Holding, the promoter entity of NDTV at issue.