The Income Tax Department has found significant discrepancies in the asset declarations of Trinamool Congress MLA Debasish Kumar, with searches at his linked premises turning up jewellery, gold and bullion that reportedly were never disclosed in his election affidavit, sources in the know told NDTV Profit on Tuesday.
Search and seizure operations were conducted on Friday at premises linked to the MLA and his associates on allegations of generation and handling of unaccounted income, the source said.
During the searches, diamond jewellery, gold and bullion valued at approximately Rs1.75 crore were seized, the source said. An additional Rs 6 lakh in cash was recovered from a business entity in which Kumar is a partner.
As per the sources, the preliminary examination has thrown up glaring gaps between what was declared and what was found. Certain valuables, including diamond jewellery and bullion, were not reflected in the election affidavit at all.
Significant differences have also been observed in the quantity of gold found versus what was declared.
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Further, analysis of financial records suggests that income declared in the returns of the MLA's spouse does not appear commensurate with the reduction in liabilities reported in earlier disclosures.
The department has sought clarification on the increase in overall assets since the previous election affidavit as well. Notices have been issued seeking explanation on the ownership and source of the seized assets. source said.
Investigations are also underway into the role of certain associates in facilitating cash transactions and investments. The source told that a report detailing the findings has been shared with the Election Commission of India and the Chief Electoral Officer, West Bengal.
The searches also covered the premises of Miraj D Shah, an associate of Kumar.
An earlier search in Shah's case had already led to seizure of jewellery and gold bars. A fresh inspection, conducted after overcoming legal hurdles posed by Shah who had filed a writ petition in the high court, revealed that 8.08 kg of bullion in the department's strong room carries a foreign hallmark.
The matter has since been referred to the Directorate of Revenue Intelligence to examine possible violations of Customs law. Reassessment of the earlier case is also underway, sources said.
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