Telangana MP Srinivasa Reddy's Firm 'Admits' Rs 60 Crore Black Money After Income Tax Raids

Agencies
November 9, 2018

New Delhi, Nov 9: A real estate firm linked to an MP of the ruling TRS in Telangana has admitted over Rs 60 crore as undisclosed income to the I-T department after multiple raids were conducted against it in September, officials said.

The firm, Ms Raghava Constructions, is promoted by Telangana Rashtra Samithi (TRS) parliamentarian P Srinivasa Reddy and his family members are partners in the company, they said.

Reddy was elected to the Lok Sabha in the 2014 elections on a YSR Congress Party ticket, but later switched over to the TRS.

The Income Tax (I-T) Department had launched searches at 16 premises of the firm and its executives in Hyderabad, Khammam, Guntur, Vijaywada, Ongole and Kadapa on September 18. The raids lasted four days.

The officials said the department has found tax evasion by the firm on at least three counts by allegedly processing "bogus sale bills" and letting of "sub-contracts to purported fictitious accounts."

The Member of Parliament (MP) from Khammam, Reddy, however, denied any wrongdoing.

"The I-T Department verification process in the case is still ongoing... Rs 60 crore is not the correct figure. The firm Raghava Constructions is a maximum tax paying company and last year it paid 14.5 per cent tax on its income and before this it paid 12 per cent income tax.

"The I-T formalities are not completed and I cannot say much as of now as I am in the campaign trail in the state," Reddy said.

Polls to the 119-member Telangana Assembly will be held on December 7.

The officials said the department, during proceedings in the case, recorded the statement of Prasad Reddy, managing partner of the real estate firm, and that he admitted undisclosed income to the tune of Rs 60.35 crore.

"The undisclosed income detected in this case is for various assessment years and the firm has assured it will soon pay the due tax," a senior official said.

The firm, the officials said, had also executed civil contract works for state government's schemes like 'Mission Kakatiya' and 'Mission Bhagiratha' that aims to better irrigation facilities and drinking water supply in Telangana.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 10,2024

Mangaluru: A teenage boy from a remote village in Dakshina Kannada district, who was undergoing treatment for stomach pain for past few days, breathed his last after hospitalization. 

The deceased has been identified as Nithin Kumar, 19, who had completed PUC and was attending computer classes. 

According to police, on May 4, when he informed his family that he had been suffering from a stomach-ache for the past 4-5 days, his family members took him to a clinic in Kaniyoor.

The doctors who examined him advised him to undergo scanning. He was informed about a kidney stone and later, they returned home. That same night, he suffered from stomach-ache again and was rushed to a private hospital in Puttur.

On May 7, as per doctors’ advice, he was discharged around 12:45pm. However, when he came home around 2:30pm, he again suffered from stomach-ache and was taken to another private hospital in Puttur, where doctors conducted a surgery.

On Wednesday, as per doctors’ advice, he was asked to be shifted to Mangaluru for better treatment.

He visited a private hospital in Derakatte, where doctors suggested that he be shifted to government Wenlock Hospital.

The doctors who examined him at the Wenlock Hospital declared him dead. A case has been registered at the Bellare police station, and an investigation is on.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 6,2024

Bengaluru, May 6: Arrested JD-S MLA H.D. Revanna, the son of former PM H.D. Deve Gowda, on Sunday said that there is no evidence against him in the sex video scandal kidnapping case and that it was a "conspiracy" against him.

Talking to the media, while being taken for a medical test before being produced in front of a court here, Revanna stated that a kidnapping case had been lodged against him though he does not have 'one black mark' against him in his entire career of 40 years.

"Without evidence, I have been targeted... All allegations against me are false. My arrest has been made out of ill intention," he claimed.

"The case was lodged on April 28, then, they did not have any evidence. Later, the fake evidence was created on May 2 and I was fixed," he alleged.

Home Minister Dr G. Parameshwara stated on Sunday that a Blue Corner notice has already been issued against Revanna's son and MP Prajwal Revanna, the prime accused in the sex video scandal, as he is believed to be abroad.

"The Interpol will communicate to all nations and he will be located. Once he is located, the SIT will take a call on how he should be secured and brought back to India," he added.

Revanna was arrested on Saturday on charges of kidnapping one of the victims of the sex video scandal.

Parameshwara further maintained that the arrest of Revanna has saddened JD-S leaders and if action was not taken, the SIT would be blamed too.

Meanwhile, Congress President Mallikarjun Kharge refused to comment on the alleged sex video scandal involving Prajwal Revanna.

About Revanna's arrest, he said that the SIT would initiate action as per the law. "Those indulging in such acts must be taught a lesson and justice should be given to the families of victims. No one can escape the law. No one should use this case politically," he stated.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 8,2024

dengue.jpg

Mangaluru, May 8: The health officials in Dakshina Kannada are concerned over the increase in dengue cases in the rural areas of the district. They've seen 108 cases since January, compared to 45 last year. 

Dr. Naveen Chandra Kulal, who works on controlling diseases spread by insects, says humidity makes mosquitoes breed more.

People storing water in pots and drums during summer also make more mosquitoes, he added. 

In Lingappayyakadu village near Mulky, a survey found people store lots of water because they don't have regular drinking water. Dr. Kulal says this water becomes a place for mosquitoes to breed if containers aren't closed properly.

Dengue cases are also rising in Bengaluru, Mysuru, and other districts, he said. Even though there haven't been big groups of dengue cases in Dakshina Kannada yet, the health department is trying hard to stop it from spreading. They're doing things like teaching people how to prevent dengue and getting rid of places where mosquitoes can breed.

So far this year, Dakshina Kannada district has only had 16 cases of malaria. Dr. Kulal says many of these cases were among workers who came from other states to work on building sites.

Dr. Thimmaiah HR, who works for the health department, says if people have a fever, they should go to the nearest clinic or hospital. He also says they should get tested if they have symptoms of dengue or malaria and be careful about the hot weather.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.