HC stays coercive action against Anil Ambani in ₹420-crore black money case
MUMBAI: The Bombay High Court on Monday directed the income tax department not to take any coercive action, including that of prosecution and penalty, against Reliance Group chairman Anil Ambani in an alleged tax evasion case. Mumbai, India – May 16, 2024: Anil Ambani attended the funeral of late Anita Goyal wife of Jet Airways founder Naresh Goyal at Chandanwadi crematorium in Mumbai, India, on Thursday, May 16, 2024. (Photo by Anshuman Poyrekar/ Hindustan Times) (Hindustan Times) A division bench of justices BP Colabawalla and Firdosh Pooniwalla admitted Ambani’s petition challenging the constitutional validity of provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act. It also directed the Union government to file its affidavit in response to the petition. In August 2022, the income tax department had issued prosecution notices to Ambani under the Black Money Act for allegedly evading ₹420 crore in taxes on undisclosed funds of over ₹814 crore held in two Swiss bank accounts. According to the notices, Ambani was liable to be prosecuted under sections …








