Fake urgency : High court imposes rupee 25 k cost on Anil Ambani.

​The Bombay High Court has imposed a cost of ₹25,000 on industrialist Anil Ambani for seeking an urgent hearing of his petition challenging a notice issued by the Income Tax Department in April 2022. The court deemed the urgency as “artificial,” stating that such facilities cannot be invoked without genuine necessity. The division bench of Justices M S Sonak and Jitendra Jain rejected Ambani’s application for an urgent hearing and directed that the cost be paid to Tata Memorial Hospital within two weeks

In a related matter, the Bombay High Court has continued an interim stay on a show-cause notice and penalty demand issued to Anil Ambani by the Income Tax Department under the Black Money Act. The department had accused Ambani of evading ₹420 crore in taxes on undisclosed funds exceeding ₹814 crore held in two Swiss bank accounts. Ambani’s legal representatives argued that the Black Money Act, enacted in 2015, should not apply retrospectively to alleged transactions from assessment years 2006-2007 and 2010-2011. The court has scheduled the next hearing for April 28, 2023, and has instructed the Income Tax Department to file a comprehensive affidavit in response to Ambani’s petition by April 21, 2023.

Sources