On January 31, 2024, the Income Tax Department launched extensive search and seizure operations targeting a Politically Exposed Person ( PEP ), along with his close associates and several government officials in Chhattisgarh. The search operation seized the unaccounted cash and jewellery valued at over Rs. 2.50 crore.
During the search operation, numerous incriminating documents, loose sheets, and digital evidence were uncovered and seized. The documents revealed the tax evasion tactics and dubious practices employed by the individuals under scrutiny. Preliminary analysis indicated that these individuals received illicit funds in exchange for granting undue favours in government-related endeavours.
The seized documents revealed a staggering sum of approximately Rs. 13 crore in illicit cash received by the PEP through his close associates. Moreover, evidence suggested that this tainted money was funnelled into the real estate sector through the PEP’s associates.
Additionally, evidence of under-the-table payments totaling around Rs. 3 crore in real estate transactions, along with unaccounted cash expenditures exceeding Rs. 8 crore by the PEP’s associates in the real estate business, have been unearthed. The credibility of these findings is further corroborated by statements provided by the PEP’s close associates and their employees, admitting to the aforementioned malpractices.
Moreover, evidence regarding the unlawful acquisition of land by the associates of the PEP has surfaced. Those impacted, such as farmers, have admitted in their testimonies that the land deals were orchestrated under the undue sway of the PEP. Likewise, the associates leveraged the PEP’s influence to secure approval for acquiring ‘Punarwas Patta’.
Additionally, discrepancies in turnover compared to bank credits have been detected at the factory premises owned by the PEP’s spouse, who operated a manufacturing concern specialising in Hume Pipes.
The Income tax search operation consisted of 25 premises scattered across Raipur, Surguja, Sitapur, and Raigarh districts. As the investigation progresses, authorities are delving deeper into the involved network of financial malfeasance uncovered during the operation.
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