Videocon loan case: Income tax department issues notice to Deepak Kochhar

The income tax (I-T) department on Tuesday issued a notice to Deepak Kochhar’s troubled firm NuPower Renewables over alleged tax evasion in connection with the Videocon loan case. 

The notice was issued under Section 131 of the Income Tax Act, which allows authorities to conduct inquiries and summon assessees. 

“The department has issued a notice to NuPower Renewables, controlled by ICICI MD and CEO Chanda Kochhar’s husband,” said an official. 

Deepak Kochhar, founder & CEO of NuPower Renewables, has been asked to furnish details of I-T returns and his personal finances over the last few years. “Details related to business