Home India news I-T searches on govt contractors yield ₹75 crore in ‘illegal assets’ |...

I-T searches on govt contractors yield ₹75 crore in ‘illegal assets’ | India News – Times of India


PATNA: Searches by the income tax department on the offices and residential premises of four contractor groups based in Patna, Bhagalpur, Hilsa (Nalanda) and Katihar have yielded Rs 3.21 crore cash and fixed deposits of over Rs 30 crore. The department has started scrutiny of the seized documents related to investments by the contractors linked with different government welfare schemes, including the ‘Har Ghar Nal Ka Jal’ project.
Fixed deposits and properties worth Rs 16 crore were placed under prohibitory orders. “The searches have led to unearthing of unaccounted income of about Rs 75 crore so far,” said an official statement issued by the Central Board of Direct Taxes on Friday, adding evidence of unaccounted cash entries, sales and purchase worth over Rs 8 crore were found during survey of contractors engaged in Gaya rock mining.
The I-T raids have generated political heat in Bihar, with LJP chief Chirag Paswan saying the flames of the probe may “engulf ’ even CM Nitish Kumar.”
The raids were conducted on Thursday. The four contractor groups engaged in stone quarrying in Gaya were found to be evading taxes by inflating expenses for the supply of material and labour.

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