Karnataka - Bangalore   

IT Department to be handed over cash

BANGALORE: The J.C. Nagar police will hand over Rs. 9.8 crore seized from a residence in Benson Town recently, to the Income Tax Department for further investigation.

According to Deputy Commissioner of Police (North) Ulfath Hussein, a jurisdiction court here had directed the department to hand over the cash to the Income Tax Department.

“Although an official of Himalaya Drugs Company has claimed the money to be his and part of the proceeds of sale of property, he has not furnished any document pertaining to the transaction,” he said. There was no proof of payment of Income Tax, he added.

The Income Tax Department would inquire into the alleged evasion of payment of tax.

Manal, a senior executive at Himalaya Drug Company, said the money belonged to the company, and it would be shortly furnishing the documents to support its claim.

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