Income tax officials have discovered tax evasion related to illegal income of over Rs 160 crore during raids at the homes and offices of two Congress leaders in Karnataka, according to sources in police. Starting last Thursday, the raids were carried out over the past four days in Gokak and Belagavi in North Karnataka, besides Bengaluru.
The officials did not name any of the raided people and said that one holds an important post in the state government and another is an office bearer in a political party. However, police sources in Belagavi confirmed the raids were conducted on small scale industries Minister Ramesh Jarkiholi and Congress women's wing head Lakshmi Hebbalkar.
"Both are engaged in sugar production. Gathered intelligence revealed that both the groups followed almost similar modus operandi to evade tax. Common entry providers/ facilitators were involved," stated an IT department release on Monday.
IT officials said mobs (assumed to be political loyalists) gathered at various raided places and tried to disrupt law and order. “They were later dispersed.”
"The raids proved systematic tax evasion by both groups. Examination of various entry providers, immediate bank enquiries and surveys carried out at cooperative societies confirmed that huge unexplained cash deposits have been made in the bank accounts of family members and associates, and that in benami names in primary Cooperative Societies, which were transferred to business entities carrying out sugar manufacturing," the statement read.
It also added that non-existent people were made the shareholders and investors in one of the sugar companies. There is also evidence to suggest that bogus assets were created and money was siphoned off from the company through various concerns engaged in turnkey projects for setting up of sugar factories.
The duo admitted to undisclosed income of Rs 162.06 crore. Unexplained cash of Rs 41 lakh and 12.8kg of gold & other jewellery items were also seized. Several people with large income and investments were found defaulting on their taxes.
The IT department rubbished the claims of the brother of another MLA from the district, who asserted he was the 'informer' behind the raids.
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