The Biggest Fish’s Smallest Claim!
Son: The Karnataka Lokayukta headed by Justice Santosh Hegde had conducted a search and seizure of the properties of the IPS Officer Hemanth Nimbalkar in 2009, dad.
Father: Go on, son.
Son: At that time the Lokayukta had claimed that Nimbalkar was their biggest fish yet, dad.
Father: Go on, son.
Son: It was even claimed that the IPS Officer had amassed assets in excess of Rs250 crore, dad!
Father: Go on, son.
Son: Recently the Lokayukta has filed a ‘B Report’ stating that it does not have any evidence against the former SP, dad!
Father: Go on, son.
Son: The apparently innocent IPS Officer has now filed a defamation case against Santosh Hegde, dad.
Father: Go on, son.
Son: The supposed to be Biggest Fish has made the smallest claim, dad. He has sought a compensation of Re1 from Hegde, dad!
Shahid Kapoor’s School of Affairs!
Son: The popular and young Bollywood actor Shahid Kapoor is a confused man nowadays, dad.
Father: How come? Go on, son.
Son: He had a long running affair with the young and popular actress Kareena Kapoor. But she deserted him and went with the divorced senior actor Saif Ali Khan, dad!
Father: Go on, son.
Son: Shahid then had a long-time affair with another young and popular actress Priyanka Chopra, dad.
Father: Go on, son.
Son: But she has now deserted him. There are strong rumours that she is having an affair with the married and middle aged senior actor Shah Rukh Khan, dad.
Father: Amusing! Go on, Son.
Son: But Shahid is not amused, dad. He says he is getting a feeling that he is running a School of Affairs for the young actresses to run away with the senior stars, dad!
Father: I don’t know, son!
Income Fictitious - but Tax Real!
Son: Mahindra Satyam has managed to secure a stay order from the Andhra Pradesh High Court against the attachment order of Income Tax Department attaching land and buildings of the company, dad.
Father: True. Go on, son.
Son: The IT Department had raised a demand for Rs617-crore tax against the company for the years 2003-04 to 2008-09 when the company was run by the tainted Ramalinga Raju and his team, dad.
Father: Go on, son.
Son: The current management of the company had pleaded with the IT dept. that the major portion of the income declared for the years was fictitious as has been investigated by the CBI team, dad.
Father: Go on, son.
Son: But the IT Department is not relenting, dad. It insists that the income may be fictitious, but the tax is for real, dad!
Father: I don’t know, son!
The Number One University!
Son: The Visvesvaraya technological University (VTU) of Karnataka has performed exceedingly well, dad.
Father: In what field? Go on, son.
Son: I am not talking about the academic performance. I am referring to the financial performance, dad!
Father: How come? Go on, son.
Son: VTU’s excellent financial performance has attracted the IT Department, which has slapped a tax demand notice for Rs220 crore, dad!
Father: Go on, son.
Son: Although the University is exempted from IT as a non-profit organization, the department has found some provision in the IT Act to demand tax - in its target-oriented approach to tax collection, dad!
Father: Go on, son.
Son: But the vice-chancellor is not amused, dad. He has challenged the demand in the High Court, dad.
Father: Go on, son.
Son: VTU will have the distinction as the First University in India to pay the income tax if ultimately it is made to pay the tax, dad!
Father: I don’t know, son!
A V Krishnamurthy
17th March 2012
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