Home Business Maha: Land deal between politician, Mumbai cable operator beneath I-T dept radar

Maha: Land deal between politician, Mumbai cable operator beneath I-T dept radar

Maha: Land deal between politician, Mumbai cable operator beneath I-T dept radar

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The Earnings Tax division is probing a land deal between a ”distinguished politician” of Maharashtra and a Mumbai-based cable operator as a part of a tax evasion investigation in opposition to them and others, the CBDT stated on Thursday.

The division carried out searches on March 8 at 26 premises in Pune, Sangli and Ratnagiri in opposition to the cable operator, and a state authorities worker and the companies associated to him, it stated. In whole, Rs 66 lakh money was seized throughout the operation, the policy-making physique for the Earnings Tax division stated.

A press release issued by the Central Board of Direct Taxes (CBDT) stated that throughout the search, it was discovered {that a} parcel of land at Dapoli was bought by a distinguished politician of Maharashtra in 2017 for a consideration of Rs 1 crore however it was registered in 2019.

”This land was subsequently bought to one of many individuals lined within the search motion in 2020 for a consideration of Rs 1.10 crore. In between, a resort was constructed on the identical land from 2017 to 2020,” it stated.

”By the point the parcel of land was registered within the identify of the stated politician, substantial building of the resort was accomplished,” the assertion stated.

The assertion didn’t determine the names of these searched or being investigated on this case.

It stated the resort was ”nearly full” when it was bought by the politician to the cable operator in 2020.

”It transpires that the related information concerning the building of the resort weren’t intimated to registration authorities and accordingly, the stamp obligation was paid just for the registration of the land on each the events i.e. in 2019 and in 2020,” in accordance with the assertion.

”Proof discovered throughout the search has revealed that the development of the resort began in 2017 and greater than Rs 6 crore was spent in money on building of the resort,” it stated.

Price of building of the identical has not been accounted for both by the particular person searched or the politician of their books of account, the CBDT claimed.

On the raids carried out in opposition to the state authorities official, the assertion stated that the official, his relations and family members have ”amassed large wealth” within the type of properties at prime localities at Pune, Sangli and Baramati, over a interval of 10 years.

”The household owns one bungalow and one farmhouse in Pune, one lavish farmhouse in Tasgaon, two bungalows in Sangli, two industrial complexes having Tanishq and Carat lane showrooms, 5 flats in numerous areas of Pune, one flat in Navi Mumbai, vacant plots in Sangli, Baramati, Pune and greater than 100 acres of agricultural land acquired throughout the previous seven years,” it stated.

The CBDT stated examination of sources of acquisition of properties and the quantities spent on the lavish interiors of outlets and bungalows is beneath progress.

”The household owns many companies together with showrooms of digital merchandise, Tanishq showrooms, civil building enterprise, actual property and pipe manufacturing enterprise,” it stated.

”It’s discovered that the development enterprise, being run by the family members of the worker, acquired many contracts from the state authorities,” the assertion stated.

The searches have ”unearthed proof of inflation of contract bills via bogus buy and bogus sub-contracts aggregating to Rs 27 crore, it stated.

The assertion added that ”proof” relating to unaccounted money receipt of Rs 2 crore in sale of land at Baramati has additionally been detected by the division.

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