Rs 1,350-crore tax evasion detected in raids on firm of Nath’s nephew

New Delhi, April 22

The Income Tax Department has detected tax evasion of more than Rs 1,350 crore during search and seizure operations conducted against Hindustan Powerprojects, a company owned by the nephew of Madhya Pradesh Chief Minister Kamal Nath, sources said.

The Central Board of Direct Taxes (CBDT) on Monday said raids were conducted earlier this month at offices of the solar power group at several locations in NCR, Bhopal, Indore and Goa by the Delhi unit of the Directorate General of Income-Tax (Investigation) based on “credible information” of large scale collection, possession and movement of unaccounted assets.

However, the CBDT statement did not name the group. “The search action was undertaken on the basis of credible information and has led to detection of large scale tax evasion of more than Rs 1,350 crore,” the CBDT said. 

According to sources, the raids were conducted at Nath’s nephew Ratul Puri’s company, Hindustan Powerprojects Pvt Ltd on April 7. — PTI