Income Tax raid on Delhi Lawyer discloses Rs. 125 Crore Black Money

October,20,2016:

Raid is part of Modi Governments drive to tame "consultants" and "lobbyists" of power corridors.

Lawyer practising in Delhi High Court and the Supreme Court has made declaration of income of over Rs 125 crore when the Income Tax Department searched his South Delhi residence. 

Sources in the I-T department have stated that their search threw up certain documents regarding several other properties of the lawyer, besides his investments allegedly in the shell companies.

The “search“ on the lawyer by the Income Tax Department coincides with its drive against the “consultants“, “lobbyists“ and others from aviation, infrastructure and defence Departments.

The IT Department searches on the lawyer's premises have come within a week of the closure on September 30 of the Government's Income Declaration Scheme,which was a four-month window for declaring unaccounted money.

It is likely that IT department will move on to high-profile targets who are suspected of having huge amounts of undeclared money but have failed to avail window offered by the Income Tax Department.