NEW DELHI: The Income Tax department has issued a Rs 24,646 crore tax demand notice to Sahara Group’s Aamby Valley Limited (AVL) after conducting a special audit of the company.
The department, as part of a special investigation and audit into the account books of AVL, found that an income of over Rs 48,000 crore for a particular assessment year was allegedly not reflected in the record books of the firm and hence it raised a fresh tax demand and penalty amount on it.
A Sahara Group spokesperson confirmed the development.
“Yes, the Income Tax Department has raised Rs 48,085.79 crores to the income of the Aamby Valley Limited with a total demand of income tax of Rs 24,646.96 crores on the Aamby Valley Limited,” the spokesperson said in a brief statement. (AGENCIES)
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