I-T dept attaches Shiv Sena leader Yashwant Jadhav's 41 properties
The properties have been attached as the I-T dept suspects that most of them were purchased through tainted money that Jadhav earned while serving as the standing committee chairman of BMC between 2018 and March 2022
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Mumbai, April 8: The Income Tax department has attached 41 properties of Shiv Sena leader and former BMC standing committee chairman Yashwant Jadhav in Mumbai, in the alleged tax evasion case.
I-T department found in an investigation that the Bandra flat in Jadhav’s possession has a registration value of Rs 5 crores. A legitimate payment of Rs 1 crore was done by Jadhav for the flat, but there is no clarity about rest of the amount.
The provisional attachment carried out by the agency is under section 132 (9)B of Income Tax Act. As per the law, I-T department can attach provisionally any property belonging to the assessee for the purpose of protecting the interest of revenue, said the report.
In case Jadhav fails to prove his case before the the income tax department and is unable to pay the penalty, the provisionally attached assets will be auctioned to recover the dues.
The properties have been attached as the I-T department suspects that most of them were purchased through tainted money that Jadhav earned while serving as the standing committee chairman of Brihanmumbai Municipal Corporation (BMC) between 2018 and March 2022.
According to reports, the attached properties include 26 flats registered in the name of a company Newshawk Multimedia, controlled by Jadhav’s nephew Vinit, and Imperial Crown hotel at Byculla that Jadhav purchased in the name of his mother-in-law, a flat in Bandra West & 14 other properties in the control of Jadhav directly or indirectly.
I-T department found in an investigation that the Bandra flat in Jadhav’s possession has a registration value of Rs 5 crores. A legitimate payment of Rs 1 crore was done by Jadhav for the flat, but there is no clarity about rest of the amount.
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Jadhav also had reportedly purchased tenancy rights of 31 flats in Bilakadi Chambers (a pagdi system building) through Newshawk Multimedia. He had paid those tenants in cash, it said.
The provisional attachment carried out by the agency is under section 132 (9)B of Income Tax Act. As per the law, I-T department can attach provisionally any property belonging to the assessee for the purpose of protecting the interest of revenue, said the report.
In case Jadhav fails to prove his case before the the income tax department and is unable to pay the penalty, the provisionally attached assets will be auctioned to recover the dues.