Bombay HC gives Anil Ambani relief over tax evasion matter

The Bombay High Court has given relief to Reliance Group chairman Anil Ambani in an alleged Rs 420 crore tax evasion matter. The high court has asked the income tax department not to take any "coercive action" against Anil Ambani till November 17.

The court has also stayed a prosecution notice issued by the income tax authorities to Anil Ambani for non-disclosure of the amount in two Swiss bank accounts. The income tax department had charged Anil Ambani with "wilful evasion" saying he "intentionally" did not disclose his foreign bank account details to the authorities.

A show cause notice in this connection was issued to him, reportedly in early August. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)