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The Bombay High Court ordered the Income Tax Department on Friday not to take any action regarding the penalty notices issued against Anil Ambani, the chairman of Reliance (ADA) Group till March 17, in connection with the income tax proceedings started against him.
The order was passed in response to a petition Ambani filed in which he contested a show-cause notice sent to him under the 2015 Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act.
On September 26, 2022, a co-ordinate bench of the High Court granted Ambani ad-interim relief from any coercive action over the show cause notice.
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( With inputs from www.siasat.com )
