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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coastaldigest.com news network
July 10,2020

Mangaluru, Jul 10: A 58-year-old official of the Central Industrial Security Force (CISF) has died due to the coronavirus infection, taking the death toll in the paramilitary force because of the disease to nine, officials said on Friday.

Assistant Sub Inspector K B Premsha, posted in the CISF unit that guards the Mangalore Refinery and Petrochemicals Ltd (MRPL), passed away at a local hospital on Thursday, they said.

He was admitted to the hospital on July 5 with fever. His COVID-19 test report arrived on July 7 and it was positive. Premsha breathed his last on Thursday, officials said. He was a resident of Kodagu in Karnataka.

This is the ninth COVID-19 death in the force that has recorded 1,137 cases till now, according to an official data.

Of the total cases reported in the force so far, 410 are under treatment across the country, nine have died and the rest have recovered, officials said.

They said that 20 personnel tested COVID-19 positive on Friday while 22 have recovered over the last 24 hours.

The about 1.62-lakh strong CISF is the national aviation security force guarding 63 airports at present and it is also tasked to guard vital installations in the aerospace and nuclear domain.

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News Network
June 21,2020

Kannur, Jun 21: Customs sleuths on Sunday seized 432 grams of gold worth around Rs 20 lakh from a passenger who arrived at Kannur International Airport from Dubai in Fly Dubai flight, scheduled under Vande Bharat Mission.

Customs Assistant Commissioner E Vikas-led team seized the smuggled gold from the passenger Usman of Malappuram district and detained him, sources said.

The seized gold was kept in his inner-wear.

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News Network
March 13,2020

Bengaluru, Mar 13: This year, schoolchildren will have a longer summer vacation starting early, thanks to the new coronavirus onslaught. Primary and Secondary Education Minister Suresh Kumar on Thursday announced that schools in Bengaluru Urban and Rural districts will be closed for vacation from Friday.

Classes from LKG to sixth standard will closed for vacations till the schools reopen in June, while students of classes 7-9 will have ‘study holidays’ until their examinations commence (as scheduled by their respective schools). Their summer vacations will begin with the completion of their examinations.

Class 10 students will have their examinations according to the dates scheduled earlier.

“Let us not treat this as a panic reaction or something to cause a scare. This measure is taken as a precaution. A lot of parents were worried about their children. We have already announced the closure of schools from nursery to sixth standards. Now, we are declaring official holidays upto sixth standard. Students of standards 1-6 will all be promoted based on their formative assessment,” said Kumar adding, “no student will be detained in those classes.”

With respect to seventh, eighth and ninth standards, the schools will be closed for study holidays and students will have to return to write their examinations.“We will not interfere in the examination schedules of CBSE and ICSC schools. However, state syllabus schools have to finish their examinations before March 23”, Public Instruction Commissioner KG Jagadeesh said.Just a couple of papers of the PU examinations are left after which their holidays will begin.

Exam timetable not changed

Miscreants are spreading rumours that SSLC examination dates are changed because of the new coronavirus outbreak. However, Karnataka Secondary Education Examination Board director V Sumangala categorically said the examinations will be held from March 27  to April 9 as scheduled earlier.

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