Explained: Who is Hasan Ali Khan, the Pune-based businessman facing money laundering cases?
Before the Income Tax raids across his properties 13 years ago, 65-year-old Khan was hardly known outside his business circles. Written by Sushant Kulkarni , Edited by Explained Desk | Pune | Updated: December 22, 2020 9:15:20 am
Khan was arrested in March 2011 under the provisions of PMLA.
Pune-based businessman Hasan Ali Khan, who is facing cases of money laundering, was
questioned for three days last week by officials of the Enforcement Directorate (ED) at his residence in the city. Having hit the national headlines in 2007, he was alleged to have owed more than Rs 34,000 crore to the government in tax dues. The Income Tax department had assessed his income during the six-year period between 2001 and 2007 to over Rs 1.1 lakh crore.
Live feed from foreign jurisdiction and money earned from that isn’t royalty: Tax ruling
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The tax department on the other hand said that the entire income was taxable in India as per the India-Singapore tax treaty. The tax department levied 10% tax on the consideration and said this amount was nothing but royalty.
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Mumbai: Live feed or live transmission from any other country to India and the money earned from that cannot be defined as royalty, an income tax tribunal has ruled.
As per the regulations royalty has to be subjected to certain taxation in India under transfer pricing framework.
Khan, now 65, had made national headlines in 2007 when news broke that he owed more than Rs 34,000 crore to the government in tax dues. The Income Tax department had assessed his income during the six-year period between 2001 and 2007 to over Rs 1.1 lakh crore, and tax liability of approximately Rs 34,000 crore. He has been accused of parking huge sums from this money in Swiss banks, using the hawala route.
Along with two cases under PMLA being probed by the ED, he is also facing a case by the Central Bureau of Investigation, wherein he has been named as a suspect, along with some government officials, for criminal conspiracy and corruption.
Khan, now 65, had made national headlines in 2007 when news broke that he owed more than Rs 34,000 crore to the government in tax dues. The Income Tax department had assessed his income during the six-year period between 2001 and 2007 to over Rs 1.1 lakh crore, and tax liability of approximately Rs 34,000 crore. He has been accused of parking huge sums from this money in Swiss banks, using the hawala route.
Along with two cases under PMLA being probed by the ED, he is also facing a case by the Central Bureau of Investigation, wherein he has been named as a suspect, along with some government officials, for criminal conspiracy and corruption.
Over 4.54 crore ITRs for 2019-20 fiscal (assessment year 2020-21) were filed till December 28
Just two weeks before “Vivad se Vishwas” direct tax resolution scheme ends, the declarations for dispute resolution made from Gujarat stand at a dismal 12 per cent, income tax officials said on Friday.
“Over the years, the pendency of appeals filed by taxpayers as well as the government has increased. The number of appeals filed is much higher than the number of appeals disposed. As a result, a huge amount of disputed tax arrears is locked up in these appeals. At present, there are 4.83 lakh direct tax cases pending in various appellate forums,” said Amit Jain, Principal Chief Commissioner of Income Tax and Director General of Income Tax (Investigations), Gujarat.