The Supreme Court heard the appeal challenging acquittal of Tamilnadu Chief Minister J Jayalalitha in disproportionate assets case today.
During the proceedings, the bench of Justices Pinaki Chandra Ghose and Amitava Roy asked special public prosecutor whether after accepting the IT returns, the income tax department can trace the sources of income and the person can be prosecuted? The counsel submitted to the court that no income was earned by Jaya publication as shown by the accused, and Rs 14 crore cash were deposited in the account and balance sheet showing profit-loss was not produced before the authority.
“The IT returns of the said amount were filed after filing of the chargesheet and money was shown as deposited under business development scheme. However, such scheme never existed which was pointed by the trial court as well as the High Court.
The arguments will continue after holidays that commence from Saturday, March 19.