Special Court quashes LOC issued by IT dept against Businessman Samir Modi in alleged Tax Evasion, for offences under Black Money Act
A Special Income Tax Court on Wednesday suspended a look out circular (LOC) issued by the Income Tax Department against Indian Business Tycoon Samir Modi and patriarch of the USD 1.2 billion Modi Group who has been alleged to be avoiding huge tax liability and further has been alleged to be involved in offences under Black Money Act for holding undisclosed foreign assets.
Source: webindia123.com
