Karnataka High Court quashes assessment notice issued to Embassy Group Chairman Jitendra Virwani under Black Money Act

The Court said that the notice was issued on the premise that Virwani was the owner of a company called Romulus Assets Limited, which was not proved by Revenue.
Jitendra Virwani and Karnataka High Court
Jitendra Virwani and Karnataka High Court

The Karnataka High Court recently quashed an assessment notice issued to Jitendra Virwani, Chairman of Embassy Group, under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act. [Jitendra Virwani v. Joint Commissioner of Income Tax and Anr]

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