Amidst poll-preparations, IT raids several contractors across Karnataka

Agencies
April 24, 2018

Bengaluru, Apr 24: The Income Tax Department on Tuesday conducted searches on a number of contractors in poll-bound Karnataka in connection with a tax evasion probe, officials said.

They said the raids are being conducted against at least 11 contractors in Mysuru and Bengaluru by the investigation wing of the department.

These contractors are linked to public works jobs rendered by them on government tenders, they said.

The department had last week said, has that it has “gathered details of all contract payments made in the last quarter of the completed financial year in the state and is making a comparison with previous years for identifying abnormal cases.”

This data is being co-related with all bank transactions and available cash withdrawal intelligence, it had said.

It had said that as part of the enhanced alertness in the wake of the single-phase polling scheduled on May 12, the investigation wing of the department in Karnataka and Goa has “stepped up its surveillance and monitoring activities”.

In an instance unearthed recently, the department claimed a contractor in one of the districts of the state was searched and it was found that “he had made payments to another person who in turn had withdrawn cash from the amount transferred”.

“The cash withdrawn of Rs 55 lakh was seized and the contractor also admitted to concealment of Rs 16 crore,” it had said.

The counting of the votes for the 224-member Assembly is scheduled on May 15.

The EC has appointed a number of election expenditure observers in Karnataka, apart from other central observers, to keep a check on black money and illegal inducements used to bribe voters.

It had said that Rs 2,000 and 500 notes constitute 97 percent of the Rs 4.13 crore cash that the tax sleuths have seized in poll-bound Karnataka till now.

The revelation came in the backdrop of a cash crunch being witnessed across various regions in the country as a number of ATMs had gone dry.

Also Read: Siddaramaiah accuses Modi govt of misusing I-T department in poll-bound Karnataka

Comments

Kumar
 - 
Tuesday, 24 Apr 2018

Feku using his power against cong ruling states.

Sandeep
 - 
Tuesday, 24 Apr 2018

Modi ji started his work

Yogesh
 - 
Tuesday, 24 Apr 2018

Great doing Modi ji. See Modi ji seizing black money

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News Network
April 22,2020

Bengaluru, Apr 22:  Karnataka Women and Child Welfare Department has warned of action against those raising funds for Covid relief works, by using photos of children.

In a release here on Wednesday, the department said that several non-governmental organisations and voluntary groups were using the photographs of children to collect donations.

It has come to notice that several NGOs are using photos of children to raise donations to meet their food, health and other expenditure during the lockdown. However, this is against the Juvenile Justice (Care and Protection of Children) Act," the Director of the ICDS scheme stated in a release.

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News Network
July 5,2020

Bengaluru, Jul 6: With a record 1,925 new cases across the state during the last 24 hours, Karnataka's Covid-19 tally rose to 23,474 including 13,251 active after 9,847 were discharged till date, an official said on Sunday.

"Of the total cases across the state on a single day, Bengaluru accounted for 1,235, taking its positive tally to 9,580, including 8,167 active," said the health official in a statement.

With 37 succumbing to the disease in the state, including 16 from Bengaluru, the state's death toll increased to 372, with 145 from this tech city since March 9.

Of the 603 discharged from across the state during the day, 302 were from Bengaluru, taking its total number of cured to 1,267 so far.

Of the 243 cases in the intensive care unit (ICU) across the state, 132 are in Bengaluru, 15 at Dharwad, 12 at Kalaburagi and 10 each at Ballari and Raichur.

Of the 16,899 samples tested in the day, 14,649 were negative and 1,925 positive. Of the total 7,06,425 samples tested so far, 6,65,525 were negative and 23,474 positive.

After Bengaluru, Dakshina Kannada reported 142 positive cases followed by Ballari 90, Vijayapura 57, Kalaburagi 49 and Udupi and Dharwad 45 each.

Of the total 603 discharged, 52 were from Kalaburagi, 37 from Ballari, 36 from Dakshina Kannada and 22 each from Udupi and Dharwad.

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News Network
May 29,2020

New Delhi, May 29: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.2 crore on Karnataka Bank Limited for non-compliance of asset classification, divergence and provisioning norms.

"The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949. 

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the central bank said in a statement on Thursday.

According to the central bank, the statutory inspection of the bank with reference to its financial position as on March 31, 2017, and as on March 31, 2018, and the Risk Assessment Reports (RAR) pertaining thereto revealed, inter-alia, non-compliance with the directions issued by RBI.

Earlier, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the directions.

After considering the bank's reply to the notice, oral submissions made in the personal hearing and examination of additional submissions, RBI concluded that the charges of non-compliance with RBI directions warranted imposition of monetary penalty, according to a release.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

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