Mumbai, Aug 12: The top tax defaulter, Hasan Ali, who was arrested over black money controversy, has been granted bail by Bombay High Court on Friday, Aug 12.
After much drama over his health and rejections of his bail pleas, finally, the high court granted bail to Hasan Ali.
Hasan Ali Khan, a Pune-based stud farm owner has been accused of stashing money in tax havens abroad and evading tax. He was taken into custody by the Enforcement Directorate on Mar 17 and later moved to jail in Mumbai.
The I-T department was faced with the task of recovering a tax collection target of Rs 5.32 lakh crore for this fiscal and a whopping tax arrears estimated at Rs 2.02 lakh crore. The officials stated, "About 1.95 lakh crore is difficult to recover."