Lucknow: Anand Kumar brother of former Uttar Pradesh Chief Minister and Bahujan Samaj party Supremo Mayawati has faced the heat of Income Tax department again after IT department conducted raids on his business premises.
The Income Tax department today launched multiple survey operations at nearly a dozen premises of businesses and firms linked to Anand Kumar, brother of BSP supremo Mayawati.
Earlier in January, reports had claimed that Anand Kumar’s companies had made some “abnormal profits” of up to 18,000% in 7 years.
Officials said the operations are being conducted in Delhi and the national capital region.
A senior officer said, “The department is also conducting survey and verification action on certain builders and business entities which had close business relations with the companies of Kumar and his associates and are believed to have made substantial investments in form of subscribing share capital, share premium among others in these entities.”
The genuineness of these transactions are being probed into, they added.
A survey operation under Income Tax laws pertains to raids where the taxman only visits the business premises of an entity and does not cover his or her residential premises.
The department, as part of these survey operations, is also ascertaining the veracity of financial transactions undertaken by these entities related to Kumar and others including inquiries in respect of their capital structure unsecured loans, creditors among others.
The taxman is ascertaining the investments made in acquiring immovable assets and the source thereof these investments, they said.
The group is a major commodity dealer and one of the biggest importer of pulses in the country.
Searches are being conducted at fourteen places in Delhi, Gandhidham, Lucknow, Bhiwadi and Barabanki, he said, adding the assessees evaded tax through benami trading on NCDEX/MCX, online commodity trading portal, by alleged bogus purchases and under-invoicing of sales.
“Assessee was also instrumental in rigging Chana prices on NCDEX,” they said.
