The income-tax department has come up with a figure of Rs71,845 crore as the total outstanding against Pune-based businessman Hasan Ali Khan and his associates. Khan has been accused of stashing away a huge amount of black money in foreign banks. Of this, the department fixed Rs50,329 crore as the demand against Khan alone, while R49 crore has been demanded from his wife Rheema Hasan Ali Khan, said sources in the department.According to the I-T Act, the department has imposed a 12% annual penalty on the outstanding tax payment.
Khan’s associate Kashi Nath Tapuriah also owes Rs591 crore while his wife has an outstanding of Rs20,540 crore. What’s more, a Rs336-crore tax payment is due against RM Investment and Trading Company Pvt Ltd, a company reportedly related to Khan and Tapuriah.
Sources in the Central Board of Direct Taxes said a probe team, with officials from the I-T department, Enforcement Directorate, Intelligence Bureau, the economic offences wing of the Maharashtra Police and the RBI, planned to obtain fresh permission from the court to obtain information from Swiss banks.
The investigators are now armed with charges against Khan under the Prevention of Money Laundering Act. Earlier, the Swiss government said since the previous charges did not fall under criminal offences, it was not under any obligation to divulge account details.