IT Dept Finds Unaccounted Wealth of Rs 130 Crore With AAP MLA
PrintListen to this Article
The department has already seized unaccounted cash and jewellery of nearly Rs 1 crore from Tanwar and his brother. Tanwar has been questioned by the Income Tax Department twice in the recent past after the raid.
Reacting to the raids, Tanwar alleged it was a political witch-hunt by the BJP-led Central government. Tanwar was a BJP leader before he joined AAP in 2014.
Sources in the IT department said the recent raid revealed that transactions for buying farm houses in Chattarpur and Ghitorni were being done in cash by Tanwar and his associates.
The sources in the IT department added that Tanwar was not paying stamp duty and registration fee on huge land transactions, thus allegedly cheating the Delhi government.
Sources also claimed that Tanwar was fudging his book of accounts by showing money from land transactions as loans and advances in companies controlled by him. He had floated 30 to 35 companies for doing these transactions.
The department has also allegedly found a large number of documents showing unaccounted and benami properties. An assessment of the value of these transactions is being done.
IT department is also investigating unexplained and unaccounted expenses on construction of a mall, residential houses, marriage expenses and farm houses having possibility of substantial tax evasion. (News18)
Category : Income Tax | Comments : 0 | Hits : 566
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
As many as 5,44,205 appeals were pending resolution with the Income Tax (IT) Department at commissioner (appeals) level as of January 31 this year, and 63,246 at various Income Tax Appellate Tribunals (ITATs), High Courts, and the Supreme Court, FE has learnt. To be precise, the cases pending in ITATs were 20,266 High Courts, 37,436; and Supreme Court 5,544. The large pendency is even as the Central Board of Direct Taxes (CBDT) has laid emphasis on disposing of income tax appeals in its 10...
The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards. The ITR functionalities i.e. ITR-1, ITR-2 and ITR-4, commonly used by taxpayers are available on the e-filing portal from 1st April, 2024 onwards for taxpayers to file their Returns. Companies will also be able to file their ITRs through ITR-6 from April 1 onwards. As ...
It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that the new regime under section 115BAC(1A) was introduced in the Finance Act 2023 which was as under as compared to the existing old regime (without exemptions): New Regime 115BAC (1A) introduced for FY 2023-24 Existing old Regime 0-3 lacs 0% 0-2.5 lacs 0% ...
Comments