Alleged conman Sukesh Chamdrashekhar objects to calculation of tax penalty on high-end cars by IT dept

New Delhi [India], December 2 : Sukesh Chandrasekhar, on Saturday, through his lawyer Anant Malik, issued a press statement concerning the recent news in regards to the auction by the Income Tax Department related to his several high-end cars.
Sukesh Chandrasekhar, the alleged conman, who is facing multiple cases under stringent sections of the Indian Penal Code and Prevention of Money Laundering Act, issued a clarification of recent developments in income tax cases against him and stated that "in regard to the tax demands and its penalties of Rs 350 odd crores, I have few objections on the calculations of the tax."
"My legal team has moved an appeal before the court concerned and whatever the outcome, I would abide by it and would be more than willing to pay what is due in accordance with law," he stated.
He further clarified that this auction by the Income Tax Department, Bengaluru, is related to a few tax demands and penalties on his alleged undisclosed income for the financial year 2013 to 2019.
"The entire Rs 350 crore demand is only related to the Income Tax Department, Bengaluru and does not involve the Enforcement Directorate or any other agency or recoveries owed by me to any other agency, as claimed in the media reports," the press statement by Sukesh Chandrasekhar stated.
"In 2019, an income tax raid was conducted at my residence and my business establishments. During this time, a few cars were seized along with high-value wrist watches worth Rs 150 crore alone. Thereafter, a tax assessment was conducted for each year from 2013 to 2019 and a tax demand and a penalty were raised on the alleged undisclosed income from my businesses," the statement added.
Sukesh further stated that, only for the year 2019, a tax demand of Rs 135 crore has been raised on his income for that year.
"Now, the demand from the tax agency of Rs 130 crore for the financial year 2019 alone shows what would be my income for that year that I am taxed. As a person who is making hundreds of crores of rupees for various businesses as per the income tax records and with various tax demands and penalties, the question arises why would I cheat Rs 200 crore from someone in the year 2021?" said the press statement by Sukesh.
According to the Income Tax Department, 12 high-end vehicles that have been seized from conman Sukesh Chandrasekhar, who is now lodged in jail in Delhi, were auctioned in Bengaluru to recover the dues he owes to various institutions. These vehicles were seized from various places by Income Tax Department officials, who investigated the financial transactions of Sukesh.