Watch: Over Rs 1 crore in cash, 10 kg of gold recovered from Karnataka Congress MLA MTB Nagaraju’s residence

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New Delhi | Updated: February 12, 2017 11:13:02 AM

The IT sleuth had been conducting searches since Thursday on multiple premises related to Hoskote MLA MTB Nagaraj as part of its investigation into alleged tax evasion charges against him and others.

cash recovered, cash recovered from karnataka minister, karnataka minister cash, cash karnarala minister nagarajuThe IT sleuth had been conducting searches since Thursday on multiple premises related to Hoskote MLA MTB Nagaraj as part of its investigation into alleged tax evasion charges against him and others.

The Income Tax department on Sunday recovered over Rs 1 crore in cash, along with 10 kg of gold, from Karnataka Congress MLA MTB Nagaraju’s residence, Times Now reported. This is the second instance of IT department raiding

The IT sleuth had been conducting searches since Thursday on multiple premises related to Hoskote MLA MTB Nagaraj as part of its investigation into alleged tax evasion charges against him and others.

“The raids conducted in the tax evasion probe case against the Congress MLA resulted in disclosure of unaccounted income exceeding Rs 120 crores. Unexplained cash worth Rs 1.10 crores and 10 kg gold have also been recovered as part of this action,” an official was quoted saying by PTI.

As per the department,  the undisclosed income was created by way of “unaccounted property investment and construction of commercial property, hospital, houses, withdrawal of bogus unsecured loans for the amount which is actually revenue receipt” and even some cash deposits made on account of renting out convention halls and paying guest accommodation, PTI reported.

Along with the recovery of cash and gold, over 3,500 land documents indicating “land ownership” of 560 acres allegedly by the Congress lawmaker and his associates were also seized, officials said.

Payments worth Rs 70 crore “received by various independent landlords” connected to the MLA, where no capital gains were paid, are also under IT scanner. In total, the department has claimed to have detect an undisclosed income of Rs 11o crore.

In a similar instance last month, the department had detected undisclosed assets worth over Rs 162 crores and seized Rs 41 lakhs cash, besides over a dozen kg in gold and jewellery after searches were conducted on the premises of Karnataka minister Ramesh L Jarkiholi and Mahila Congress president Laxmi R Hebbalkar.

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