Hyderabad, Aug3:
The Income-Tax department on Wednesday informed the Andhra Pradesh High Court that it would prosecute the YSR Congress chief and Kadapa MP, Mr Y.S. Jagan Mohan Reddy, the promoter of Jagati Publication, under the provisions of the Income-Tax Act.
Mr J.V. Prasad, counsel for the I-T department, submitted before a Division Bench comprising Chief Justice Nisar Ahmad Kakru and Justice Vilas V. Afzulpurkar, that the department had filed an affidavit in this regard.
The Bench was dealing with a petition by the Telugu Desam leaders seeking a direction to prosecute Mr Jagan Mohan Reddy under the provisions of the I-T Act for filing false assessments regarding the publications owned by him.
According to the I-T department’s affidavit, Jagati Publication’s total taxable income for 2008-2009 was Rs.272.65 crore.
The affidavit disclosed that penalty proceedings under provisions of the I-T Act had already been initiated against the Kadapa MP’s publication
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