Rs 120 cr hidden income, Rs 1.10 cr cash, 10 kg gold detected in I-T raids on MLA

February 12, 2017

Bengaluru, Feb 12: The Income Tax department on Saturday claimed to have detected undisclosed income worth Rs 120 crore and seized cash worth Rs 1.10 crore and 10 kg of gold after it conducted raids on a Congress MLA here earlier this week.

itraid

The department had been conducting searches since Thursday on multiple premises related to Hoskote MLA MTB Nagaraj as part of its investigation into alleged tax evasion charges against him and others.

"The raids conducted in the tax evasion probe case against the Congress MLA resulted in disclosure of unaccounted income exceeding Rs 120 crore. Unexplained cash worth Rs 1.10 crore and 10 kg gold have also been recovered as part of this action," officials said.

The department found that the undisclosed income was created by way of "unaccounted property investment and construction of commercial property, hospital, houses, withdrawal of bogus unsecured loans for the amount which is actually revenue receipt" and even some cash deposits made on account of renting out convention halls and paying guest accommodation.

Over 3,500 land documents indicating "land ownership" of 560 acres allegedly by the Congress lawmaker and his associates were also seized, officials said.

The searches were conducted here and in Hoskote, and have now ended.

The taxmen are also probing payments worth Rs 70 crore "received by various independent landlords" connected to the MLA and where no capital gains were paid.

Sources claimed that an instance of claiming exemption of Rs 125 crore related to "running of an SEZ" is also under the scanner of the tax department.

Attempts to get Nagaraj's comments by PTI did not fructify.

In a similar instance last month, the department had claimed to have detected undisclosed assets worth over Rs 162 crore and seized Rs 41 lakh cash, besides over a dozen kg in gold and jewellery after searches were conducted on the premises of Karnataka Minister Ramesh L Jarkiholi and Mahila Congress president Laxmi R Hebbalkar.

Comments

shaji
 - 
Sunday, 12 Feb 2017

99.9 perent of poiticians are decoints/looters/tax thieves. They join politics only to make money. All politician properties should be investigated. Most of the policians are crorepatis with looted money.

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News Network
May 28,2020

Bengaluru, May 28: A thousand government schools in Karnataka are set to get Englishmedium sections from this academic year (2020-21). These institutions will function in both English and Kannada medium.

The decision was taken by primary and secondary education minister S Suresh Kumar and officials of the education department at a meeting on Wednesday.

Suresh Kumar said dualmedium will help improve the standard of schools and enable their development. The poorest of the poor spend almost 40% of their income on their children’s education in private schools. With the introduction of dual-medium, the government hopes such families will be able to save their earnings, he said. These schools will impart lessons in both English and Kannada. They will also provide textbooks in both languages.

‘Kannada must for all’

The meeting reviewed implementation of the compulsory Kannada Language Learning Act, 2015. Officials from the Kannada Development Authority were present at the meeting who claimed that some private schools have failed to implement the Act properly.

“Action will be taken against such institutions. Every child studying in schools across the state must learn Kannada,” Kumar said at the meeting.

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News Network
June 11,2020

Mangaluru, Jun 11: City police on Thursday filed a 700-page chargesheet in connection with the arrest of Aditya Rao, 36, accused of planting an IED at Mangaluru International Airport on January 20.

The chargesheet said the bag placed near MIA entrance had a real bomb, as per the FSL report. The IED in the tin box was made of sulphur, ammonium nitrate, potassium chlorate and charcoal.

Rao, an engineer, who learnt bomb-making through online videos, had also placed a timer along with it and sharp objects such as nails and metals. However, he had not fixed wires to trigger a blast. “His intention was not to cause a blast but only to create a scare,” said sources.

The bomb was made in less than two weeks. However, it had taken Rao several days to procure raw materials. Police had completed the chargesheet process in April.

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News Network
March 11,2020

Udupi, Mar 11: An elderly woman, who had recently visited Saudi Arabia has been admitted to an isolation ward at KMC in Manipal, here with symptoms of fever, cough and breathlessness.

The 68-year-old woman hails from Sagar taluk in Shivamogga district of Karnataka.

The patient had travelled to Saudi Arabia in the last week of February and was treated for fever cough and breathlessness there.

After recovery, she had travelled back to Bengaluru, where she was screened at the airport. 

Later, she reached Shivamogga where she was treated at Nanjappa Hospital for symptoms of fever, cough. 

As she has symptoms of coronavirus, she is quarantined and is under observation. The samples will have been sent to Bengaluru and the result is awaited.

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