Amazing : NDTV Slammed with a fine of Rs 525cr by IT Dept, Says, “It Sold Dreams”

Income Tax Department of India (ITD)  has issued a fine of ₹525 crores on NDTV for fooling, evading more than ₹642 crore income earned through sham transactions in 2008. When caught for the unexplained money of how more than ₹642 crores reached them through Bermuda, NDTV claimed that they “sold a dream”. This baseless answer was given to the ITD by NDTV by claiming that this unexplained money was through some inflated share transfer and dividend from a tax haven based firm.

Income tax department has served NDTV with a Sound 14 pager Notice on June 15th 2016 and there has been no reply from NDTV. They seem to have given a baseless reason that Pranoy Roy is unwell and is resting in his holiday home somewhere in South Africa.

Total Unexplained Mooney was around ₹642,54,2200 (150 million US $).This money seem to have been received from NBC Universal Inc and Universal Studios International BV. This money was routed through NDTV via illegal channels.

How_USBV_invested_into_NDTVIncome Tax department of India suspected a scam in year 2010 itself with NDTV, when this transaction was suppressed in the statements submitted to it. They claimed 64 crores loss then in tax return.

When caught NDTV said that they “sold a dream” and the dream later went bust, says the Income Tax notice detailing the fraud. NDTV, which has personalities such as Prannoy Roy, Barkha Dutt, Vikram Chandra, Nidhi Razdan and Sonia Singh who have been preaching ethics 24X7 to viewers for the past 25 years. No Wonder, people call them Presstitutes now.

200 percent fine is also slapped on NDTV by Income Tax Officials since, it deliberately try to misled and suppress facts. NDTV reportedly has asked for more time till their boss Pranoy Roy returns from holiday.

Here is the link of Incoome Tax Notice

Source: Pgurus website and twitter