CHENNAI: The Madras High Court has reserved its orders, without specifying a date, on actor Vijay’s petition challenging the imposition of a penalty of Rs 1.50 crore for alleged concealment of income.
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While filing his IT return for 2015-2016, actor Vijay had declared that he earned an income of Rs 35.42 crore in that period.
During the assessment proceedings, the IT department, after comparing the return with documents seized during a search conducted at Vijay’s residence in 2015, found that an income of Rs 15 crore received for the film Puli had not been disclosed.
Consequently, the department passed an order on June 30, 2022, imposing a penalty of Rs 1.50 crore for concealing that income.
Thereafter, Vijay petitioned the HC challenging the penalty. While entertaining the petition, the High Court had earlier granted an interim stay of the impugned penalty order.
The final hearing of the case came up before Justice Senthilkumar Ramamoorthy on Thursday.
During the hearing, Vijay’s counsel submitted that, as per law, the penalty order ought to have been passed on or before June 30, 2019.
Since the order was issued belatedly in 2022, it was liable to be set aside.
The IT department’s counsel argued that the penalty imposed was in accordance with the provisions of the IT Act, and sought dismissal of the petition.
After hearing the submissions of both sides, the Court reserved its judgment without specifying a date.