Rs 152 crore unaccounted income recovered at State officials’ residence: I-T department

Income Tax Department of Karnataka and Goa raided the residences of two State government engineers and two contractors.

Published: 02nd December 2016 05:06 PM  |   Last Updated: 02nd December 2016 07:08 PM   |  A+A-

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By Express News Service

BENGALURU: Income Tax Department (I-T) of Karnataka and Goa that raided the residences of two State government engineers and two contractors, said that the group stood at an unaccounted income of Rs 152 crore that includes high-end luxury cars.
 
According to sources, the officials are S C Jayachandra, chief planning officer of state highway development project of Public Works Department and T N Chikkarayappa, managing director of Cauvery Neeravari Nigam Ltd.
 
I-T department which had raided two officials’ houses on 30 November said, “In these searches, cash in excess of Rs 6 crore, bullion of 7 kg approximately and jewellery of about 9 kg  (gold and jewellery is valued at approximately Rs 5 crore) were found from the residences. Out of the cash found, Rs 5.7 Crores was in the new currency of Rs 2,000 denomination notes.

About Rs 90 lakh were found in the old demonetised currency.” 
 
Further, the I-T department recovered 7 kg gold worth Rs 2 crore separately at the residence of Jayachandra’s son Trijesh. They also found a Porsche and a Lambhorgini registered in his name.
 
According to sources in the department, the four banks that have reportedly performed the cash transactions have been issued a notice. Besides, IAS and IPS officers of Tamil Nadu are also summoned. 
 
“In addition, several property documents were also found, and seized. The investigations are underway,” said I-T department in its official press release. 
 

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