I-T raids on Yediyurappa aide, others detect Rs 750 crore undisclosed income
The five-day search operations conducted by the Income Tax (I-T) department in Karnataka and three other states have resulted in the detection of undisclosed income amounting to Rs 750 crore. The raids were carried out in as many as 47 locations, including at the house of a close aide of former chief minister BS Yediyurappa.
According to the I-T department, search and seizure operations were carried out against three major Bangalore-based contractors engaged in the execution of irrigation and highway projects. The searches began on 7 October and were conducted by more than 300 officials.
The I-T department said, “These three groups were involved in the suppression of their income by resorting to bogus purchases; inflation of labour expenses; booking of bogus sub-contract expenses and so on. The investigation has revealed that one of the groups booked bogus sub-contract expenses in the name of about 40 individuals with no…