(a) the top twenty individuals and corporate bodies
who have defaulted in paying income tax during the
last two years as on 31st March, 2003 and as on date;
(b) whether the Government are considering to make the
recovery of income tax dues from these defaulters;
(c) if so, the measures taken so far; and
(d) if not, the reasons therefor?
MINISTER OF FINANCE (SHRI JASWANT SINGH)
(a) to (d) A Statement is placed on the table
of the House.
Statement referred to in reply to parts (a), (b),
(c) & (d) of Lok Sabha Starred Question No. 69 for
answer on 5.12.2003
(a) The names of twenty assessees with the highest
outstanding demand as on 31.3.2002, 31.3.2003 &
30.6.2003 are given at Annexure.
(b) Yes, Sir.
(b) Measures taken to realise Income Tax dues
depend on the facts of each case. Recovery of tax is
being effected through the machinery as provided under
Chapter XVII and Second Schedule of the
Income Tax Act, 1961.
(d) Most of the assessees in the list are Notified
Assessees where recovery is possible only with the
approval of the Special Courts. Some cases are
pending before Board for Industrial and Financial
Reconstruction (BIFR) where recovery has not been
possible in view of provisions of Section 22 of Sick
Industrial Companies (Special Provisions) Act, 1985.
In some cases installments have been granted or demand
has been stayed by either Income Tax Authorities or the
jurisdictional ITAT/ High Court.
ANNEXURE
S.No. Names of Assessees with highest outstanding demand As on 31.3.02 As on 31.3.03 As on 30.6.2003
1.Harshad S. Mehta Harshad S. Mehta Harshad S. Mehta
2.Sahara India A.D. Narrotam A.D. Narrotam Financial Corpn. Ltd.
3.Hiten P. Dalal Northern Northern Coalfields Ltd. Coalfields Ltd.
4.Sahara India Hiten P. Dalal Hiten P. Dalal Mutual Benefit Co. Ltd.
5.Shaw Wallace Co. Ltd. IDBI Smt. Jyoti H.Mehta 6.Bhupinder C. Dalal Smt. Jyoti H. Mehta IDBI
7.Maruti Udyog Ltd. Bhupinder C. Dalal Bhupinder C. Dalal
8.Ashwin S. Mehta GTC Industries Ltd. GTC Industries Ltd.
9.Smt. Jyoti H. Mehta Ashwin S. Mehta Ashwin S. Mehta
10.S. Ramaswamy S. Ramaswamy S. Ramaswamy
11.Sahara India Maruti Udyog Ltd. Maruti Udyog Ltd. Airlines
12.Videsh Sanchar Triumph International Triumph Nigam Ltd. Ltd. International Finance (I) Ltd
13.Growmore Research Sahara India Sahara India & Asset Mngt. Ltd. Financial Financial Corpn. Ltd. Corpn. Ltd.
14.GTC Industries ICICI Ltd. First Global Ltd. Stock Broking Pvt. Ltd.
15.Triumph Shaw Wallace Cascade Holding International Co. Ltd. (P) Ltd.
16.Premier Growmore Research Shaw Wallace Automobiles Ltd. & Asset Mngt. Ltd. Co. Ltd.
17.Max Telecom Rolex Holding Rolex Holding Ventures Ltd. Ltd. Ltd.
18.Sudhir S. Mehta Ganpati Growmore Research Exports Ltd. & Asset Mngt. Ltd.
19.U.P. Forest Triumph Ganpati Exports Ltd. Corpn. Ltd. Securities Ltd.
20.NALCO Ltd. Sahara India Sahara India Mutual Benefit Mutual Benefit Co. Ltd. zaqCo. Ltd.