THE INCOME-TAX Department, which searched the premises of retired Uttar Pradesh-cadre IAS officer and aide to BSP chief Mayawati Net Ram on charges of alleged tax evasion Tuesday, has recovered cash worth Rs 1.04 crore along with detection of properties worth Rs 225 crore.
Four benami luxury vehicles, including a Mercedes and two Fortuners, Mont Blanc pens worth Rs 50 lakh and scores of property papers were found by the tax department during its searches, a senior tax official said. Documents of gift of shares of shell company to family members of assessee were also found by the department, the official said.
On Tuesday, the tax department had conducted searches at 12 locations in Delhi and Lucknow linked to Net Ram.
The tax department official said 30 shell companies are alleged to have either his family members or his in-laws as shareholder and director. Also, he is alleged to have acquired 6 properties out of bogus share capital of Rs 95 crore — two properties in Delhi, one in Mumbai and three in Kolkata.