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Congress got Rs 170 crore from Hyderabad firm: I-T

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Congress got Rs 170 crore from Hyderabad firm: I-T

New Delhi: The income-tax department has issued a notice to the Congress seeking an explanation over the party allegedly receiving funds to the tune of Rs 170 crore from a Hyderabad-based firm as part of its tax evasion probe in an Rs 3,300-crore hawala racket case, officials said on Tuesday.

They said the notice was issued to the party to take the probe forward in the case that came to light last month after multiple raids, with links to “leading corporate houses” in the infrastructure sector, were conducted in Delhi, Mumbai and Hyderabad.

According to the officials, the funds to the Congress were sent by Hyderabad-based infrastructure company.

Some functionaries of the Congress and an Andhra Pradesh-based political party are also under the scanner of the taxman in this case, they said.

The Central Board of Direct Taxes (CBDT), which makes policy for the income-tax (I-T) department, had said in a statement in November that the raids to unearth the large tax evasion nexus were conducted in the first week of the month.

The raids were conducted on 42 premises in Delhi, Mumbai, Hyderabad, Ero-de, Pune, Agra and Goa on a group of people issuing bogus bills and conducting hawala transactions, the statement had said.

“The search action was successful in unearthing incriminating evidences and establishing the nexus between big corporates, hawala operators and identification of entire chain of delivery, as well as siphoning of funds by way of bogus contracts to the tune of `3,300 crore,” the CBDT had said.

The raids resulted in busting of a “major racket of cash generation” by leading corporate houses in the infrastructure sector through bogus contracts and bills, it added.

Hawala denotes illegal transaction of funds by skirting the legal banking channels.

According to the CBDT, funds meant for public infrastructure projects were siphoned off through entry operators, lobbyists and hawala dealers in this case.

The companies involved in siphoning of funds were said to be mostly located in the National Capital Region and Mumbai.

“The projects involved in bogus billing are major infrastructure and EWS (economically weaker section) projects located in south India.

“Evidence of cash payment of more than `150 crore to a prominent person in Andhra Pradesh has also been unearthed during the search,” the CBDT had said.

“Unexplained cash of `4.19 crore and jewellery worth in excess of `3.2 crore was also seized during the search operation,” it had said.

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bhaigan LEGEND

bhaigan

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1 hour ago, Anta Assamey said:
Congress got Rs 170 crore from Hyderabad firm: I-T

New Delhi: The income-tax department has issued a notice to the Congress seeking an explanation over the party allegedly receiving funds to the tune of Rs 170 crore from a Hyderabad-based firm as part of its tax evasion probe in an Rs 3,300-crore hawala racket case, officials said on Tuesday.

They said the notice was issued to the party to take the probe forward in the case that came to light last month after multiple raids, with links to “leading corporate houses” in the infrastructure sector, were conducted in Delhi, Mumbai and Hyderabad.

According to the officials, the funds to the Congress were sent by Hyderabad-based infrastructure company.

Some functionaries of the Congress and an Andhra Pradesh-based political party are also under the scanner of the taxman in this case, they said.

The Central Board of Direct Taxes (CBDT), which makes policy for the income-tax (I-T) department, had said in a statement in November that the raids to unearth the large tax evasion nexus were conducted in the first week of the month.

The raids were conducted on 42 premises in Delhi, Mumbai, Hyderabad, Ero-de, Pune, Agra and Goa on a group of people issuing bogus bills and conducting hawala transactions, the statement had said.

“The search action was successful in unearthing incriminating evidences and establishing the nexus between big corporates, hawala operators and identification of entire chain of delivery, as well as siphoning of funds by way of bogus contracts to the tune of `3,300 crore,” the CBDT had said.

The raids resulted in busting of a “major racket of cash generation” by leading corporate houses in the infrastructure sector through bogus contracts and bills, it added.

Hawala denotes illegal transaction of funds by skirting the legal banking channels.

According to the CBDT, funds meant for public infrastructure projects were siphoned off through entry operators, lobbyists and hawala dealers in this case.

The companies involved in siphoning of funds were said to be mostly located in the National Capital Region and Mumbai.

“The projects involved in bogus billing are major infrastructure and EWS (economically weaker section) projects located in south India.

“Evidence of cash payment of more than `150 crore to a prominent person in Andhra Pradesh has also been unearthed during the search,” the CBDT had said.

“Unexplained cash of `4.19 crore and jewellery worth in excess of `3.2 crore was also seized during the search operation,” it had said.

Naku enduko edi TDP ani balam ga anipisthundi

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hyperbole Celebrity

hyperbole

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30 minutes ago, snoww said:

Thalli Congress Pilla Congress same no. 

 

39 minutes ago, bhaigan said:

Naku enduko edi TDP ani balam ga anipisthundi

150 crores TDP ki ichinattu unna matter delete chesi post chesindu matter.

 

New Delhi: 

The Income Tax department has issued a show cause notice to the Congress, asking the party to clarify if it has received funds to the tune of Rs 170 crore from a Hyderabad-based firm as found through its probe into a Rs 3,300-crore hawala case, news agency PTI quoted officials as saying on Tuesday.

According to officials, the case reportedly came to light last month after multiple raids on "leading corporate houses" in the infrastructure sector across Delhi, Mumbai and Hyderabad. The dealings of some Congress functionaries and the Telugu Desam Party in Andhra Pradesh - which allegedly received funds to the tune of Rs 150 crore from the firm - are also being scrutinised, they said.

The show cause notice issued by tax officials on December 2 reportedly identified the company under scrutiny as Megha Infrastructure and Engineering. Congress treasurer Ahmed Patel confirmed the receipt of such a notice, and said that his party will respond to it "legally".

The Central Board of Direct Taxes (CBDT), the agency responsible for creating policy for the Income Tax department, had earlier reported raids on 42 premises across Delhi, Mumbai, Hyderabad, Erode, Pune, Agra and Goa in the first week of November. "The search action was successful in unearthing incriminating evidence and establishing the nexus between big corporates, hawala operators and identification of entire chain of delivery, as well as siphoning of funds by way of bogus contracts to the tune of Rs 3,300 crore," it said in a statement.

Hawala refers to the practice of illegally transacting funds by skirting legal banking channels. According to the CBDT, funds meant for public infrastructure projects were siphoned off through entry operators, lobbyists and hawala dealers in this particular case.

The CBDT said that companies involved in siphoning of funds were said to be mostly located in the National Capital Region and Mumbai. "The projects involved in bogus billing are major infrastructure and EWS (economically weaker section) projects located in South India. Evidence of cash payment of more than Rs 150 crore to a prominent person in Andhra Pradesh was also unearthed during the search. Unexplained cash amounting to Rs 4.19 crore and jewellery amounting to over Rs 3.2 crore was also seized during the search operation," it said.

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