NEW DELHI: In one of the crucial poll-bound states, source of revenue tax division has stuck a top leader of one of the crucial nationwide parties have generated ‘unaccounted coins’ (black money) of over Rs 20 crore and the usage of it for “unlawful activities, comparable to cash-for-vote”.
“The brother of the politician running a firm providing sub-contracts to infrastructure firms has admitted to having an unaccounted source of revenue of Rs 12 crore,” a supply stated. The politician in question and his other close buddies were puzzled through the I-T division with the proof seized from their premises in a search performed a month-and-half in the past.
The I-T officials confronted the leading political determine from a southern state with a video snatch that showed him providing Rs 50 lakh to an MLA in a purported case of poaching. The politician regardless that denied having a role in unaccounted coins, but his buddies have admitted having generated black money gained from bogus contracts.
Just ahead of the meeting elections, the findings of the I-T division are prone to embarrass his celebration with tax officials considering prosecuting all of the accused present in producing black money and having gained alleged payoffs from infrastructure firms.
“Documents associated with bogus sub-contracts were seized during raids at the premises of the politician and his kinfolk. Payments gained for those sub-contracts could now not be substantiated with supporting documents when tax officials confronted the accused,” the supply stated.
The alleged payoffs were gained from Infrastructure firms engaged in executing govt contracts in the constituency of the politician in question. The total bills made for the sub-contracts is to the music of over Rs 20 crore.
The I-T evaluation order prepared on the searches states that the accused politician had additionally gained a Porsche from considered one of his close buddies which he later refused to assert possession.
This is not the primary case of I-T motion towards politicians and their close family members in southern states. Last week, TOI had reported an I-T motion towards Telangana Rashtra Samithi (TRS) Member of Parliament from Khammam, P Srinivasa Reddy.
The I-T division had unearthed Rs 60 crore in alleged ‘unaccounted source of revenue’ accrued over the last few years through an infrastructure company, Raghava Construction crew, related to the TRS MP from Khammam.
Srinivasa Reddy had, alternatively, denied any intention of tax evasion. He had informed TOI remaining week that his infrastructure company, Raghava Constructions, has been pointing out an annual profit of round 14% as towards 2-3% declared through other infrastructure corporations. “We are appearing a profit of 14.5% and all our source of revenue is tax paid. The documents seized through the I-T division are nonetheless under exam and if it finds any inaccuracies in the returns filed, we're able to pay taxes as appropriate,” Reddy stated.
The I-T searches on Reddy buddies were conducted in overdue September this yr, together with residential premises of the TRS MP. Several key documents were seized associated with the undisclosed source of revenue of the gang company.
“The brother of the politician running a firm providing sub-contracts to infrastructure firms has admitted to having an unaccounted source of revenue of Rs 12 crore,” a supply stated. The politician in question and his other close buddies were puzzled through the I-T division with the proof seized from their premises in a search performed a month-and-half in the past.
The I-T officials confronted the leading political determine from a southern state with a video snatch that showed him providing Rs 50 lakh to an MLA in a purported case of poaching. The politician regardless that denied having a role in unaccounted coins, but his buddies have admitted having generated black money gained from bogus contracts.
Just ahead of the meeting elections, the findings of the I-T division are prone to embarrass his celebration with tax officials considering prosecuting all of the accused present in producing black money and having gained alleged payoffs from infrastructure firms.
“Documents associated with bogus sub-contracts were seized during raids at the premises of the politician and his kinfolk. Payments gained for those sub-contracts could now not be substantiated with supporting documents when tax officials confronted the accused,” the supply stated.
The alleged payoffs were gained from Infrastructure firms engaged in executing govt contracts in the constituency of the politician in question. The total bills made for the sub-contracts is to the music of over Rs 20 crore.
The I-T evaluation order prepared on the searches states that the accused politician had additionally gained a Porsche from considered one of his close buddies which he later refused to assert possession.
This is not the primary case of I-T motion towards politicians and their close family members in southern states. Last week, TOI had reported an I-T motion towards Telangana Rashtra Samithi (TRS) Member of Parliament from Khammam, P Srinivasa Reddy.
The I-T division had unearthed Rs 60 crore in alleged ‘unaccounted source of revenue’ accrued over the last few years through an infrastructure company, Raghava Construction crew, related to the TRS MP from Khammam.
Srinivasa Reddy had, alternatively, denied any intention of tax evasion. He had informed TOI remaining week that his infrastructure company, Raghava Constructions, has been pointing out an annual profit of round 14% as towards 2-3% declared through other infrastructure corporations. “We are appearing a profit of 14.5% and all our source of revenue is tax paid. The documents seized through the I-T division are nonetheless under exam and if it finds any inaccuracies in the returns filed, we're able to pay taxes as appropriate,” Reddy stated.
The I-T searches on Reddy buddies were conducted in overdue September this yr, together with residential premises of the TRS MP. Several key documents were seized associated with the undisclosed source of revenue of the gang company.
Rs 20 cr black money unearthed, linked to leading politician from poll-bound state
![Rs 20 cr black money unearthed, linked to leading politician from poll-bound state]()
Reviewed by Kailash
on
November 12, 2018
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