Dalmia Group of Companies’ Vice Chairman Anurag Dalmia has been granted bail by a Delhi court in a black money case of alleged tax evasion lodged by the Income Tax Department.
The court granted the relief to the 59-year-old Mr. Anurag after he appeared before it in pursuance to summons issued to him.
He was granted bail on furnishing a personal bond of Rs. 50,000 with one surety of the like amount.
The court also directed him to inform it whenever he leaves the country.
The court also granted bail to businessman Parag Dalmia, also summoned as accused in a separate black money case of alleged tax evasion, on furnishing of bail bond of Rs. 50,000 and surety of like amount. As per the department, he is the director of Dalmia Infrastructure Pvt Ltd and Globus Estates Pvt Ltd. He is not associated with the Dalmia Group of Companies.
The court has now fixed both the cases for May 18 for scrutiny of documents and recording of pre-charge evidence.
Regarding Mr. Anurag, the department has filed two similar complaints for years 2006 and 2007, alleging he was holding a foreign bank account but did not disclose it in his income tax returns and there were undisclosed deposits in the account.
It claimed that the account maintained at HSBC Bank, Switzerland, was opened in November 2000 by Mr. Anurag but on being confronted, he denied having any such foreign account.
The complaint said the total balance in the bank account as on March 31, 2006 was over USD 62 lakh (Rs. 27.9 crore) and USD 22 lakh (Rs. 14.17 crore) as on March 31, 2007 in addition to the interest.
Regarding Mr. Parag, the department claimed he was maintaining a bank account with HSBC Bank, Geneva, which was opened in October, 1998 and the balance in the account was about USD 2.7 lakh which amounts to Rs. 1.2 crore as on March 31, 2006 in addition to the interest.
When confronted, Mr. Parag refused to comment on the issue of having foreign bank account, the income tax department’s complaint alleged.
The complaints were filed by the department in January under sections 276 (c)(1) (wilful attempt to evade tax), 276(d) (failure to produce accounts and documents) and 277 (false statement in verification) of the IT Act.