I-T raid against Sasikala point at benami transactions

November 13, 2017, 11:38 am
I-T raid against Sasikala point at benami transactions
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I-T raid against Sasikala point at benami transactions

I-T raid against Sasikala point at benami transactions

After four days of continuous raid by the I-T officials dressed as wedding attenders took over the firms owned and controlled by jailed Sasikala and members of her family, income officials probing into the matter hint at official documents that reveal property purchase across Tamil Nadu worth over crores of rupees that could be benami transactions.

Initially the team were raiding across 187 locations of Tamil Nadu, Andhra Pradesh and Delhi which by Sunday came down to 37 locations situated in Chennai, Coimbatore and Puducherry while fraudulent documents were seized from 150 other locations, evident enough to prove the party guilty, reports The Hindu.

“We have seized documents [hinting at] huge benami assets. It appears that prime properties in Tamil Nadu have been purchased in the names of household staff like car drivers, servants, assistants, etc. and friends or business associates of the main suspects. We will serve notices asking them to explain the source of income [for purchase of these properties] and account for the same,” a senior income officer was heard saying to Hindu.

On condition of anonymity, the official also revealed that the team had been scrutinising all firms for quite sometime before barging in for a raid.

“We had specific inputs of [suspected] large scale benami transactions involving the family members [of Sasikala] over a period of time. Adequate homework was done before launching the operation, which is one of the biggest in recent times. A large volume of documents has been seized, and more may come out soon. A sizeable number of documents was seized from a house in T. Nagar. The market value of these assets could be several hundreds of crores [of Rupees],” he was quoted saying.

Taking the case to a serious note, seniors from the Foreign Tax and Tax Research division would be asked to assist the investigation if necessary.

Income tax officials also raided the farm house of Sasikala’s nephew, TTV Dhinakaran at Villupuram district.