MP IAS couple face record I-T penalty of Rs 140 cr | india | Hindustan Times
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MP IAS couple face record I-T penalty of Rs 140 cr

india Updated: Jan 04, 2012 01:35 IST
Amit Jha
Amit Jha
Hindustan Times
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The income-tax department has slapped demand notices worth about Rs 140 crore on suspended IAS couple of Madhya Pradesh cadre, Arvind and Tinoo Joshi, and their relatives.

According to sources in the department, the couple had amassed unaccounted wealth worth R280 crore. The I-T assessment wing completed its exercise a few days ago. Though the break-up of the income-tax penalty to be paid by the suspended IAS couple could not be known, an I-T officer told HT if they paid they would become the highest income-tax payers, among bureaucrats, in the country. http://www.hindustantimes.com/Images/HTEditImages/Images/04-01-pg9a.jpg

The couple could not be reached for comments.

In February 2010, more than R3 crore in cash was recovered following an I-T raid on the Joshi’s premises. The raids also revealed that the couple had 25 apartments in Guwahati, seven plots in Bhopal, Rs 10 crore in various bank accounts and investments more than Rs 250 crore.

The 1979-batch officers — Arvind was principal secretary in the water resources department and Tinoo was principal secretary in the women and child development department — used to pay more than R1 crore per year in life insurance premiums alone. All this when their combined official income was about Rs 2 lakh a month.

A senior I-T officer said assessment of 4,000 cases had been completed and compilation of the total demand notices was in the final stage. The figures would be officially released by January 10.

The state government had suspended the couple the day after the raid. The state will now have to decide whether the Joshis should be dismissed from service. State law minister and spokesperson for the government Narottam Mishra, however, declined to comment on the I-T notice and the possible course of action.