Income Tax Department has detected Benami properties worth Rs 3.5 crore from an aide of former Uttar Pradesh Chief Minister Akhilesh Yadav, sources toldon Wednesday.
The search action which was started on December 18 covered more than 30 premises spread over various locations including Lucknow, Mainpuri, Mau, Kolkata, Bengaluru and NCR.
Sources toldthat unexplained investment of Rs 11 crore in a shell company and investments in Benami properties worth Rs 3.5 crore have been identified from Jainendra Yadav, who is a close aide of Akhilesh Yadav.
Income tax sleuths are trying to figure out the real beneficiary of Benami properties of Jainendra Yadav.
As per the sources, the IT department has found undisclosed income of over Rs 86 crore from Manoj Yadav, who is Director of RCL company.
Manoj Yadav has admitted a sum of Rs 68 crore as his undisclosed income and offered to pay tax thereon.
During the investigation, IT department has found that Rajeev Rai who is also Secretary of Samajwadi Party run a Nursing College in Bangalore.
It further said that Rajeev Rai has an investment in Dubai. He used to route his funds to Dubai through Kerala-based entities including Markazu Saquafathi Ssunniyya Trust and Markaz Knowledge City Trust, connected with Dubai, for the personal benefit of the trustees. Investigation reveals that Bengaluru-based Trust and its related entities transferred Rs 80 lakh in the guise of donation, for non-trust purposes which is the violation of relevant provisions relating to registration of trusts under the Income-tax Act, 1961 for a claim of exemption, as well as, FEMA provisions.
"Rajeev Rai was collecting Rs 3.5 crore per year for the last three years as capitation fees. More than Rs 10 crore in cash was collected as capitation fees in the last three years. Expenses to the tune of over Rs 4.8 crore incurred from the account of the Trust, for the trustees' personal benefit over the last 3 years, have also been gathered, said sources.
A Kolkata-based entry operator has also been covered in the search operation. Another source who was involved in the search told that Rahul Bhasin was using Kolkata-based entry operator to make his black money into white. Rahul Bhasin used the conduit of shell companies to route its unexplained income and investments. Such unexplained investment to the tune of Rs 12 crore has been identified.
( With inputs from ANI )
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