The Income Tax Department has reportedly served notices to the Reliance Group owners, Ambani family, after receiving information for their alleged undisclosed foreign assets and income. The business tycoons have been booked under provisions of the 2015 Black Money Act.
According to a report, Mukesh Ambani, wife Nita Ambani and their three children – Anant, Akash, and Isha Ambani – were sent notices on March 28, 2019. However, the family-owned company has denied any such notice from the I-T department.
The I-T investigation pertains to information received by The Indian Express sources of an estimated 700 Indian individuals and entities holding a cluster of 14 accounts with a balance of $601 million, in HSBC, Geneva in 2011.
The notices have been served regarding details of Capital Investment Trust, Thames Global Limited, Infrastructure Company Limited, Antalis Management Limited, and Harinarayan Enterprises.