CHENNAI: The Madras High Court on Monday dismissed as withdrawn, the plea filed by TS Kumarasamy of Christy Friedgram, to withdraw all cases challenging the raids conducted by the Income Tax department pending before it. A special bench of Justices V Parthiban and Anita Sumanth, hearing the petition, also directed that Rs 213 crore be deposited by the firm with the court, to remain in the interest bearing account till a final order is passed by assessing authority.
The issue pertains to raids conducted by the department on July 5, 2018. At the end of the searches on July 9, the department alleged that it had unearthed undisclosed income to the tune of Rs 1,350.29 crore. During the course of hearing, the company proposed a deal to deposit a total of Rs 50 crore to the department for which they are permitted to withdraw Rs 213 crore deposit and give assurance not to attach any properties of the firm.