Bengaluru: Raids was carried out in homes and offices from three contractors, including those allegedly close to former Minister of BS Yediyurappa and his son by Vijayendra, last week generating revenues that had not been revealed by Rs 750 Crore, according to the Income Tax Department.
During the search, I-T’s armbits confiscated countless cash 4.7 crore, jewelry worth 8.7 crore and silver articles worth Rs 30 lakh, in addition to recovering physical and digital evidence.
I-T officials searched 47 places owned by three contractors spread across four countries on October 7.
“Contractors are involved in the implementation of irrigation projects and highways in the state,” the release of the I-T department without revealing their names.
The contractor recognizes RS 487 Crore as an endangable income: I-TTH officials I-T officials say these groups are involved in suppression of income by using fake purchases, inflation of labor costs and costing false sub-contracts.
“One group (has) claimed to have pampered itself in the inflation of labor costs by Rs 382 Crore.
Other groups have been found to have taken accommodation entries from companies that do not exist as far as Rs 105 Crore,” said the broadcast.
One group ordered fake sub-contracts on behalf of 40 individuals without means and not connected to the construction business.
From RS 750 Crore, unexpected revenues detected, the contractor has recognized the RS 487 Crore as an undisclosed income, the release is claimed.
Raid on the company hired by DKSI-T Sohuth on Tuesday raided the Bengaluru Office from design-boxed, a picture and political consulting company from Gujarat.
The company was reportedly employed by the President of the DK Shivakumar Congress State Unit to help design a political strategy and build its image in the assembly poll of 2023.
Officials raided the company’s office located near the Shivakumar residence in Sadashivanagar.
Shivakumar said, “I will react after getting the details of the attack.
They (designboxed) are professionals and they have helped me.
They will give any answers to what they have to give to I-T officials,” he said.