Romesh Sharma sentenced to 2 years RI for tax evasion

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New Delhi, Mar 31 (UNI) Additional Chief Metropolitan Magistrate Kanwaljeet Arora today sentenced alleged Dawood Ibrahim associate Romesh Sharma to two years rigorous imprisonment (RI) for evading income tax, the amount of which has accrued to a sum of almost Rs 50 crores.

The court also imposed a fine of Rs two lakh on Sharma.

The court had earlier found him guilty under Section 276(C)(2) and Section 277 of the Income Tax Act.

The Income Tax Department had filed a complaint before the court in May 1996 alleging that Sharma had not paid income tax of Rs 21,48,000 during the year 1987-88, a sum of Rs 2,74,00,000 for the period 1988-89, and a sum of Rs 25,64,000 for the period 1989-90.

Later in the year 1998, a raid was conducted at Sharma's house and Rs 10 lakh cash, 15 cars and jewellery worth Rs 12 lakh and a helicopter were recovered.

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