Income Tax Department Targets Rs 170 Crore Tax Evasion by Super-Class Contractors
By: Admin
Date: January 20, 2025
Categories: Income Tax News | News
Reading Time: 4 Minutes
The Income Tax (I-T) department conducted simultaneous searches at 44 locations linked to eight super-class contractors on Friday, uncovering alleged tax evasion exceeding Rs 170 crore. Among those under scrutiny are relatives of two former ministers from Odisha.
Key Details of the Operation
- Search Locations:
Searches were carried out in Odisha, including Bhubaneswar, Balangir, Kantabanji, Boudh, Sonepur, Sambalpur, Jharsuguda, and in Raipur, Chhattisgarh. - Targeted Individuals:
At least eight super-class contractors, including relatives of prominent politicians.
Relatives include a sibling of a BJD minister and a brother of a Congress leader from Balangir.
- Seizures and Findings:
Rs 1.5 crore in cash was seized during the operation, with more recoveries expected.
Allegations include fake labour and material bills to evade taxes over the last five years.
Link to Hansita Abhilipsa
The operation stems from an earlier investigation into Hansita Abhilipsa, accused of amassing wealth through illegal means and engaging in benami transactions.
Suspected Connections:
Hansita, along with her associate Anil Mohanty, reportedly engaged in high-value transactions with a corporate entity.
The I-T department is investigating whether the contractors colluded with Hansita in tax evasion schemes.
Preliminary Findings
Four out of the eight contractors are suspected of large-scale tax evasion.
The contractors allegedly used fake bills for labour and construction materials to evade taxes.
Conclusion and Ongoing Investigation
The I-T department is intensifying its probe into the financial dealings of these contractors and their possible links to Hansita. With Rs 1.5 crore already seized, authorities expect to uncover more irregularities as the investigation progresses.
The operation reflects the government’s commitment to addressing large-scale tax evasion and cracking down on fraudulent practices in the construction and real estate sectors. Stay tuned for further developments.
