Mumbai Congress chief's wife lands in I-T trouble
The income tax (I-T) department has nailed former Mumbai Congress chief Kripashankar Singh's wife Maltidevi in its assessment report submitted to the Bombay high court.Updated: Mar 01, 2012 23:51 IST
The income tax (I-T) department has nailed former Mumbai Congress chief Kripashankar Singh's wife Maltidevi in its assessment report submitted to the Bombay high court.
The I-T authorities have in the report straightforwardly rejected her claim of having "nil" taxable income. Instead, the department has assessed her income for four years (2009-10, 2008-09, 2005-06 and 2004-05) at more than Rs 2.6 crore.
HT has accessed the reports for these years.
Meanwhile, Singh moved the Supreme Court on Thursday, challenging the HC direction for his prosecution under the Prevention of Corruption Act and attachment of his immovable properties in a case of alleged disproportionate assets.
The highest amount of income showed against Maltidevi was in 2008-09 when the department computed it to Rs 1.35 crore. The year after this (2009-10) the department assessed her income at Rs 89.4 lakh.
Further, for 2005-06 her income was calculated at Rs 25.9 lakh while for 2004-05 it was Rs 11.6 lakh.
The assessment report said Maltidevi had not filed any returns till the department issued notices last year.
In returns filed on May 2, 2011 for all these four financial years, she claimed her taxable income as "nil" and only showed small income as agricultural.
The assessment report shows she declared agricultural income of Rs 1.32 lakh for 2009-10, Rs 1.28 lakh for 2008-09, Rs 75,000 for 2005-06 and Rs 69,000 for 2004-05.
The department considered various things while calculating her income, including purchase of agricultural land, LIC policy brokerage received from a builder group, cash deposits in bank, investment in shop and interest credited with bank.
As per the assessment report, Maltidevi's bank account reflects gifts of Rs 25,000 each received from 47 parties during July, August and September 2004.
First Published: Mar 01, 2012 23:49 IST