Daijiworld Media Network – New Delhi (SP)

New Delhi, Oct 4: Hasan Ali Khan (52), owner of a stud farm in Pune, who is facing charges of evading income tax amounting to around Rs 40,000 crore, and thereby earning the distinction of being the biggest tax evader ever in the country’s history, has revealed that his wealth soared to Rs 1.10 lac crore during the last five years.

Hasan however, has failed to identify sources of his income. This, along with some other reasons, were the basis for the cancellation of Ali’s bail, which was earlier  granted by Bombay High Court, by the Supreme Court.

The officials have recovered Ali’s deposit receipt for US $7,00,000 at Barclay’s Bank London, a receipt for commission amounting US $ 30,000 earned through sale of jewellery said to be owned by Hyderbad Nizam, and transactions conducted in different foreign banks.

Although the income tax department suspects that he was involved with money laundering, Ali has not been forthcoming with any information about his income sources.

After these things were brought to the notice of Supreme Court, his bail was cancelled.