The Income Tax (IT) department has unearthed foreign assets to the tune of over Rs 200 crore after four days’ of searches on the properties of Haryana Congress leader Kuldeep Bishnoi and his family members.
The searches, initiated on July 23, were conducted on Kuldeep Bishnoi’s group covering 13 premises across Delhi, Haryana and Himachal Pradesh.
“The group, controlled by persons who have significant political presence in a neighbouring state for decades and are occupying responsible political positions has been generating large amounts of undisclosed income over several decades,” the CBDT said in a statement issued here late night.
“Evidence detected so far reveals undisclosed cash dealings of huge amounts in immovable property transactions, construction among others,” it added.
The statement said the I-T investigation has “successfully lifted the mask and has detected undisclosed foreign assets of the said persons of more than Rs 200 crore.”
The IT department claims that “apart from domestic tax evasion of more than Rs 30 crore which may, inter alia lead to severe criminal consequences under the Black Money Act, 2015, apart from action under the Income Tax Act, 1961. These findings may also have multi-agency ramifications.”
It said the foreign holdings of the main persons have “remained hidden for decades” beneath complex multi-layered structures, located in countries like the British Virgin Islands, Panama, UK, UAE and Jersey.
“These structures have involved various front men and corporations across continents,” the CBDT said.