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| Chadha, Q got kickbacks, says tax t |
| Bofors hits UPA again: Chadha, Q got kickbacks, says tax tribunal
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| INDIA
, 3-January-2011
18:13:39 PM |
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In the first such official acknowledgment, the Income-Tax Appellate Tribunal (ITAT) has held that kickbacks were paid to the late Win Chadha and Italian businessman Ottavio Quattrocchi in the Bofors gun deal and said they were liable to pay tax in India on such income.
The 98-page order cites the CBI investigation, the agency’s chargesheet in the case, the JPC Report into the Bofors scam, the letters exchanged between the governments of India and Sweden, the report of the Swedish government’s Audit Department SNAB and other material evidence to come to the conclusion that kickbacks were paid.
ITAT Member (Judicial) R P Tolani and Member (Accountant) R C Sharma gave this order while dismissing an appeal by Hersh W Chadha, Chadha’s son, against the I-T department’s claim of Rs 52 crore and Rs 85 lakh from his father for the assessment years 1987-88 to 1993-94 and 1995-96 to 1999-2000 respectively
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