IT Department slaps Rs 57 crore penalty on Abhishek Manu Singhvi

A penalty of over Rs 57 crore has been imposed on Congress leader Abhishek Manu Singhvi by the Income Tax Settlement Commission (ITSC).

The Commission has added Rs 92 crore to the professional income of the Congress leader over a period of three years.

However, Singhvi claimed that he spent rupees 35.98 crore on purchase of Solar Panel for his company.

The I-T department found that the transaction was mainly intended at tax evasion by inflating the cost of the panels.