I-T Dept Issues Notice to Deepak Kochhar over Videocon Loan Case
The ICICI-Videocon Loan Row case has already blazed too much attention and adding to it, now the Income Tax Department has issued a notice to Deepak Kochhar, husband of Chanda Kochhar, CEO, and MD at ICICI Bank.
Issued under I-T Act, section-131, Deepak has been asked to submit all details relating to his personal expenses, Income tax returns and his business transactions with NuPower Renewables.
Section-131 of I.T act deals with issues relating to production and discovery of evidence wherein income tax officials can ask for account books and statements.
Indian tax officials will seek information from its Mauritian counterpart regarding investments made in entities and the person behind those entities under the amended tax treaty. As per inside sources, a bank official said that F...
