Income Tax dept raids legal firm, recovers fraudsters’ list
NEW DELHI: The Income Tax (I-T) department has raided 38 locations linked to a law firm, in connection with a case of “unaccounted cash payments” and evasion worth Rs 117 crore.
During the investigation, the department said it has recovered a list of many high profile clients involved in tax evasion.
Sources aware of the raid identified the advocate as Manoj K Singh, founder of Singh and Associates.
Singh is a leading advocate practicing in the field of commercial arbitration and alternative dispute resolution.
He was only last month elected as chairman of the Delhi bar council’s executive committee, and is part of the bar council’s rules committee, sources revealed.
Singh is also the Special Counsel for TRANSCO, New Delhi Municipal Council (NDMC), and was previously empanelled with Delhi Development Authority (DDA).
According to the CBDT officials, the I-T department has recovered Rs 5.5 crore in cash, underreporting of fee and tax evasion and purchase and investment in property above Rs 100 crore in the last two years.
The officials claimed that they have not only got documents about the unaccounted cash, but also a list of many high profile clients, including developers, businesses, who were involved in the cash racket.
"We have conducted a search at another location, related to this case, which is at another lawyer in Chandigarh. In all these searches we have got a long list of his clients, who he helped in settling disputes and who were involved in large cash transactions," official said, adding two more legal firms have also been shortlisted for action in the forthcoming days.
Lawyer allegedly took Rs 217 cr to settle a case
The tax department claims that Chandigarh advocate took “at least Rs 217 cr in cash” from clients to allegedly settle their disputes. Another lawyer “had received Rs 117 crore” for a separate case.