ED ties property worth Rs 7.3 crore from income tax officer in disproportionate assets case

ED ties property worth Rs 7.3 crore from income tax officer in disproportionate assets case

Pursuant to the Prevention of Money Laundering Act 2002 (PMLA), the Enforcement Directorate (ED) provisionally seized real estate worth Rs 7.33 million under the disproportionate assets case brought against Shri Andasu Ravinder, Additional Director of Income Tax. , who was forcibly retired by the Treasury under Rule 56 J.

Based on the FIR filed by the CBI, ACB Chennai v Sh. Andasu Ravinder, who along with his wife Smt. Kavitha Andasu, together with other defendants, accumulated wealth in his name and in the name of his wife Smt. Kavitha Andasu between 1st January 2005 and 29th August 2011, which was disproportionate to their known sources of income and totaled Rs. 2,32,20,296/-, the ED Assets acquired by Shri Andasu Ravinder on her behalf, on behalf of his wife, Smt. Kavitha Andasu, and on behalf of M/s Sri Raviteja Trading Pvt. Ltd., Hyderabad during the audit period would have been deemed disproportionate to the known sources of income to the extent of Rs. 2,32,20,296/- which was found to be 171.41% disproportionate to the combined income by Shri Andasu Ravinder

According to a criminal conspiracy, Shri Andasu Ravindar and others have engaged in the criminal activity of accumulating wealth disproportionate to their known sources of income and the sources of income of Shri Andasu Ravindar and his wife. A disproportionate sum of Rs. 2,32,20,296 was created and invested in five properties between 1st January 2005 and 29th August 2011. Thus, according to the PAO of 30.09.2022, the aforementioned properties with market value current Rs. 7, 33, 81, 701/- obtained from the proceeds of crime specified in Section 2(1)(u) of the PMLA have been provisionally seized.

Earlier in the same case, under Section 8(3) of the PMLA, 2002, the Honorable Adjudicating Authority, New Delhi temporarily tied and later confirmed the illegal gratuity of Rs. 50 lakhs allegedly delivered to Sh. Andasu Ravinder at his home on August 29, 2011, as part of certain favors granted by the official to settle tax disputes.

Further investigation is underway.

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