An NDTV ‘breaking news’ today claimed that the Supreme Court has ruled in favour of NDTV in a tax case which accused the company of money-laundering while raising funds abroad in 2007 for its non-news businesses. The report also said that the Court has refused to allow the Revenue Department to reopen an assessment that was decided years ago.
However, soon after the report, other media came with a clear story of the same that proves the claims of NDTV were wrong. Confirming that there is no breather to NDTV in Rs 405 crore ‘unaccounted money’ case, reports quoted Revenue Department saying SC has not given clean chit but upheld the government’s view by giving it liberty to assess the case by resorting to another provision relating to foreign assets.
A department source says the SC has endorsed the government’s view that there are reasons to believe that for Assessment Year 2008-09, undisclosed income worth Rs 405.09 crore had escaped assessment. The source also accused the UPA government of failing to act in the limitation of 4 years.