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2020 (2) TMI 519 - HC - Income TaxLarge scale tax evasion - Petitioner seeking permission to travel abroad as well as stay of the lookout circular issued against the petitioner for conducting business affairs - HELD THAT:- The perusal of the status report, however, reveals that there are allegations of large scale tax evasion. The report prima facie reveals that petitioner is promoter of the Group and Director in the same companies of the Group who have indulged in large scale tax evasion. The Group has also obtained large scale credit facilities in different names from the banks based upon fictitious transactions. The petitioner has not been co-operating with investigating agency and has been evasive during interrogation. Keeping in mind the fact that petitioner was the main person controlling/ directing affairs of the group within and outside India and there is large scale tax evasion and investigation is still in progress and there is a strong apprehension that petitioner may not return and, thus, will not be available for investigation, he cannot be granted permission to travel abroad at this stage. The application of the petitioner for seeking permission to travel abroad is, therefore, dismissed and stands disposed of accordingly.
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