Latest


I-T Dept Slaps Rs 20,000 Cr Penalty on 4 Associates of Hasan Ali

  •   Tue, Apr 05 2011 09:16:18 PM

New Delhi, Apr 5 (PTI): The Income Tax Department has slapped a penalty of Rs 20,000 crore on four associates, including businessman Kashinath Tapuriah, of Hasan Ali Khan who is accused of stashing huge amounts of black money in foreign banks.

"A penalty of about Rs 20,000 crore has been slapped on associates of Hasan Ali Khan," Revenue department sources said.

Besides Tapuriah, who is in Enforcement Directorate's custody, the Pune-based stud farm owner's three associates are Chandrika Tapuriah, Syed Ahamad Abbas Naqvi and R M Investments and Trading Company Pvt Ltd. Chandrika Tapuriah is the wife of Kashinath.

They faced a tax demand of Rs 13,000 crore over which penalities have been added. Hasan Ali is facing a Rs 70,000 crore tax demand notice from the I-T department as well as the Enforcement Directorate (ED). He is in judicial custody now.

According to a report of the Comptroller and Auditor General of India (CAG), Hasan Ali and Tapuriahs owe the government about Rs 75,000 crore in taxes.

It also said that out of Rs 2 lakh crore that remained uncollected in 2008-09, "one group namely Hasan Ali alone accounted for Rs 71,874 crore of uncollected demand".

CAG also said Hasan Ali's income multiplied by over 100 times in six years from Rs 529 crore to Rs 54,268 crore in 2006-07.
  

Top Stories

Mangaluru: First Neuro Hospital gets global recognition from WSO

  •   5 hours ago    1

Comment on this article

  • Lawrence Lobo, Bangalore/USA

    Tue, Apr 05 2011

    I am of the strong opinion that this is a clever ploy on the part of vested interests to divert and hoodwink the Public from the bigger Picture. Do you think " Hassan Ali" is a loner guilty of stashing wealth in Swiss or other foreign banks? I am sure there must be a very long list of tainted politicians and other prominent individuals who are guilty of a similar crime of far greater proportions. Surely they are having sleepless nights at the moment, as this case has set the precedent to unravel a lager Ponzi scheme against India. A cover-up for further revelations is by dilly dalling and concentrating only on Hassan Ali. My humble appeal to our public don't be fooled there are may more " Hassan Ali's" prowling around in our Indian Backyard. If I may suggest let us - proud Indians - as responsible members of our democracy, eliminate this scourge of corruption by ralling each other through the medium of "Twitter" - "Face book" etc. Let us replicate the Egyptians and cause a peaceful revolution. Let us then together demand from our politicians our fundamental constitional right to clean and transparent governance. Then and olnly then can poverty be eliminated and only then can India assume its place as a future power.

    DisAgree Agree Reply Report Abuse


Leave a Comment

Title: I-T Dept Slaps Rs 20,000 Cr Penalty on 4 Associates of Hasan Ali



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like