I-T probe finds Rs 203 crore undisclosed income in Aditya Birla Group case

NEW DELHI: An investigation by the income tax department has unearthed undisclosed income of nearly Rs 203 crore in the hands of different officials of the Aditya Birla Group, as per an internal report. The report also claims the hawala route was used to transfer these funds through aDelhi-based Hawala operator.

The confidential report dated February 27 last year, which was submitted to the Director, Income Tax (Investigation) by the Additional Director, I-T (Investigation), says the assessing officer should carry out further enquiries and investigation in the matter.

The probe started after I-T officials seized Rs 25 crore in one of the Aditya Birla Group offices in Delhi on October 16, 2013 along with other documents.

The I-T authorities subsequently recorded the statements of the company's deputy general manager (accounts) Anand Kumar Saxena who was the custodian of the cash. Shubhendu Amitabh, an executive president of the Mumbaibased group had claimed the seized cash belonged to him.

The probe resulted in the I-T department discovering close to Rs 203 crore of unaccounted cash in the hands of different people of the group. "The DDIT (Deputy Director of Income Tax Investigation) has brought out very clearly that the unaccounted cash receipts recorded in seized materials seems to be received from certain companies of Aditya Birla Group through the Angadias/Hawala operator of Delhi," the I-T report said.

Saxena, as per the report, has admitted to I-T authorities that the unaccounted cash used to be received by him at the office premises of Aditya Birla Group "through various angadias."

The Aditya Birla Group said the report was an internal one and I-T department was yet to begin assessment proceedings.

"The purported report is an internal and confidential report of the income tax department, the assessment of which is yet to commence, and therefore the news report based on a purported internal report may or may not contain true or complete facts," the Aditya Birla Group said in a statement.

"The group has already made it clear through its press release dated October 17, 2013 that it has been both taken aback and concerned about the money seized in one of the group company's premises."