The CBDT has issued the clarification in response to media reports, which, according to the Board, created an impression that the government is trying to harass him through ITD.
“As the notices were issued prior to his retirement, the conclusion that the Government is trying to harass him is entirely incorrect”, it added.
The notices were issued on September 14, 2010 and January 24, 2011 to Bhave to support his return of income and furnish details relating thereto.
Bhave was the Sebi chairman between February 2008 and February 2011.
Regarding enquiry in the case of two serving members of Sebi, it said, “necessary action is being taken according to the law on the basis of complaint received in the CBDT”.