This ad will auto close in 10 seconds

I-T seeks docs from CBI regarding Jagan probe

Last Updated: Monday, October 31, 2011 - 19:13

Hyderabad: The Income Tax department on Monday
approached a local court seeking copies of the documents
seized by CBI during the probe of corruption allegations
against Kadapa MP Y S Jaganmohan Reddy and the alleged
irregularities in the Emaar Properties land deal.

I-T officials here have filed two applications before the
special CBI court, seeking directions to the central probe
agency to provide information on the seized material, so that
they could frame pending assessment of Jagan, of some
companies owned by him and the Emaar Hill Township Pvt Ltd.

The I-T Department says it has to complete the assessment
by December 31, within the statutory period of limitation
under the Income Tax Act.

The court posted the matter for hearing to November 2.
A similar application filed earlier by Bangalore I-T
officials, seeking information found by CBI in the raids
regarding Jaganmohan`s cases, would be heard on the same day.

The I-T officials had first approached the CBI for
information and documents, but the latter asked them to seek
court`s permission.

In August this year, CBI registered a case against Jagan the son of former Andhra Pradesh Chief Minister late Y S
Rajasekhara Reddy on the instructions of High Court for
cheating, criminal conspiracy, criminal breach of trust and
offences under Prevention of Corruption Act.

The CBI, which has been probing investments by various
firms into Jagan`s businesses, alleges in its FIR that he
conspired with his father and others to "cheat the government
of Andhra Pradesh in the matter of granting certain favours to
many companies".

The CBI has also registered a case in connection with the
alleged irregularities in APIIC-Emaar Properties land deal
against former Chairman and MD of Andhra Pradesh Industrial
Infrastructure Corporation, B P Acharya and Emaar Group on the
direction of the High Court.

According to CBI, Acharya, currently Principal Secretary
(Home), entered into a criminal conspiracy with Emaar Group
officials and unknown public servants to cheat APIIC. One of
the allegations is that Emaar sold plots at Gachibowli here at
below-the-market prices, without the knowledge of APIIC,
causing the Corporation a loss.


First Published: Monday, October 31, 2011 - 18:46
comments powered by Disqus