New Delhi, Aug 24: Income Tax Department is said to have seized several documents during its "survey" of the Escorts Heart Institute and Reaseach Centre (EHIRC) and recorded the statements of its governing body members and brothers Rajan and Anil Nanda about the alleged illegal transfer of assets of this charitable institution to a limited company. The IT Department, which carried out the survey at various places in the National Capital Region and Chandigarh on August 21, claims to have seized documents pertaining to the merger of EHIRC with a Chandigarh based company registered by the management of the escorts and these were being scrutinised.
Following this, the two Nanda brothers were questioned by the department during which Rajan contended that the merger was legal while Anil maintained that it was illegal.
A spokesperson for Anil Nanda told that his stand was that the EHIRC should remain a charitable institution.
According to the IT Department case, EHIRC was registered as a charitable trust in 1981 with a total capital of Rs 60 lakh for a hospital with the objective of using its income to undertake activities of medical and educational relief for the poor.
It stated that the institute had been set up not with a view to earning profits. Following this, EHIRC was registered as a charitable institute on October 21, 1981 and enjoyed tax exemptions under Section 12 of IT Act.
When contacted, an Escorts spokesperson refused to make any comments on the allegations.
The spokesperson had however, confirmed on August 21 that an IT survey was on. Bureau Report