Chennai:The Additional Chief Metropolitan Magistrate Court (Economic Offences-I), Egmore issued a non-bailable warrant against Rathna Stores and its three partners in connection with cases registered against them by Income-Tax department for allegedly evading tax to the tune of Rs 10.5 crore.
The IT department registered six cases against Rathna Stores and its partners S. Ravishankar, S. Krishnakumar and S. Periyapirati. According to the SPP for I-T department, M Sheela, Rathna Stores and its partners had not filed tax returns during 2008 to 2012.
They had allegedly not paid tax to the tune of Rs 10.5 crore during the period.In June 2016, the Department had initiated proceedings against them under section 276C (1) and 276C (2) of the IT Act for non payment of tax and also under section 277 of IT Act for filing false returns. They had not appearedbefore the court repeatedly. When the matter came up for hearing on Thursday, the judge S. Malarmathy issued NBW against them and adjourned the matter.
