New Delhi: The Comptroller and Auditor General (CAG) report, which was tabled in Parliament on Friday, revealed that Pune-based businessman, Hasan Ali Khan multiplied his income by over 100 times in six years from Rs 529 crore to Rs 54,268 crore in 2006-07. Ali to be in judicial custody: SC
Khan, who is presently in custody of the Enforcement Directorate (ED), has not filed returns for several years despite earning crores, CAG said.
According to the assessment made by Income Tax Authorities, Ali’s taxable income jumped from Rs 528.9 crore in 2001-02 (assessment year) to Rs 5404.7 crore in 2002-03. Thereafter, it soared to Rs 54,268.6 crore in 2006-07.
The report further said that Ali did not file income tax returns for years from 2001-2007.
However, he filed the tax returns for these years in May 2007 after IT issued search operations notice.
The CAG also said "while computing his tax liability for the AYs (assessment year), the (IT) Department levied interest of Rs 706.1 crore instead of Rs 4,056 crore for default in furnishing returns and Rs 10,033.3 crore instead of Rs 9,756.9 crore for default in payment of advance tax".
The report said in 2008-09 out of Rs 2 lakh crore that remained uncollected, "One group namely Hassan Ali alone accounted for Rs 71,874 crore of uncollected demand".
Hasan Ali, 53, on Thursday surrendered before the ED after the Supreme Court cancelled his bail and remanded him to four days' ED custody.
The Supreme Court on Friday said that Pune-based stud-farm owner Hasan Ali Khan he cannot be out on bail till its further order even after four days of interrogation by Enforcement Directorate.
A bench of Justices B Sudershan Reddy and S S Nijjar said that after four days of police custody given to ED, he will be remanded in judicial custody.
Clarifying its Thursday’s order on cancelling his bail, the bench said that it had stayed the lower court order which had granted bail and it would remain suspended till further order.
New Delhi: The Comptroller and Auditor General (CAG) report, which was tabled in Parliament on Friday, revealed that Pune-based businessman, Hasan Ali Khan multiplied his income by over 100 times in six years from Rs 529 crore to Rs 54,268 crore in 2006-07.
Ali to be in judicial custody: SC