Who Is That MLA Going to Embarrass KCR?

Reports emerging from National Media suggests that one MLA from Telangana Rashtra Samiti is under Income Tax Department net. The MLA is reportedly in Income Tax radar for amassing illegal assets worth 500 Crore and Tax Evasion. The MLA is running an education trust with several educational institutions including a medical college.

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His institutions were searched in December 2015 by ED and which led to the seizure of about Rs 20 crores and seizure of highly incriminating documents and detection of undisclosed income of more than 500 crores. The MLA has reportedly also secured an anticipatory bail from the Principal Sessions Court, Raichur.

It is emerging that Income Tax Department and Enforcement Directorate is gearing up for a criminal prosecution on the MLA under sections 276(I) AND 277 of the Income Tax Act, 1961 for the offenses of willful attempt to evade taxes etc and false statement in verification etc involving substantial loss of revenue to the Government.