I-T dept issues Rs 24,646 cr notice to Sahara’s Aamby Valley

TIL Desk/Business/New Delhi/The Income Tax department has issued a Rs 24,646-crore tax demand notice to Sahara Group’s Aamby Valley Limited after conducting a special audit of the company.

The department, as part of a special investigation and audit into the account books of AVL, found that an income of over Rs 48,000 crore for a particular assessment year was allegedly not reflected in the record books of the firm and hence it raised a fresh tax demand and penalty amount on it.

A Sahara Group spokesperson confirmed the development. ‘Yes, the Income Tax Department has raised Rs 48,085.79 crores to the income of the Aamby Valley Limited with a total demand of income tax of Rs 24,646.96 crores on the Aamby Valley Limited,’ the spokesperson said in a brief statement.