9:17 PM
Unknown
MUMBAI: The Income Tax (I-T) department will start criminal proceedings for concealment of income against Hasan Ali Khan, the Pune-based owner of race horses who is wanted for money-laundering deals worth billions of dollars and tax evasion.
I-T officials will lodge a complaint for concealment of income in a court in Mumbai and then forward the documents to the Swiss government in yet another bid to ask for information about Khan's banking transactions in
that country.
This will be the third attempt by the I-T department to convince the Swiss about the need for Indian officials to be privy to information about Khan's bank accounts. The Enforcement Directorate (ED) has also made a separate attempt. Data earlier gathered from Khan's computer showed that he allegedly had a balance of $8.04 billion in UBS Zurich at one point.
I-T officials will lodge a complaint for concealment of income in a court in Mumbai and then forward the documents to the Swiss government in yet another bid to ask for information about Khan's banking transactions in
that country.
This will be the third attempt by the I-T department to convince the Swiss about the need for Indian officials to be privy to information about Khan's bank accounts. The Enforcement Directorate (ED) has also made a separate attempt. Data earlier gathered from Khan's computer showed that he allegedly had a balance of $8.04 billion in UBS Zurich at one point.
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