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Birla case: I-T probe finds Rs 203 cr undisclosed income

An Income Tax probe has claimed to have found an undisclosed income of Rs 203 crore in the hands of different people of Aditya Birla Group which had allegedly used the hawala route to transfer an undisclosed sum of money.

Months after the sensational seizure of Rs 25 crore in one of the Aditya Birla Group offices here in October 2013, a report filed by the Additional Director of Income Tax (Investigation) claims that Aditya Birla Management Corporation Pvt Ltd received cash from certain companies of the Group through the angadias/hawala operator in Delhi.

The report of February last year, however, does not say what the money was used for. The I-T department investigation said company’s Deputy General Manager (Accounts) Anand Kumar Saxena admitted “that the unaccounted cash used to be received by him at the office premises of ABMCPL through various angadias.”

The probe put the undisclosed income at Rs 203.18 crore in hands of different persons. When contacted, the company reacted saying, “in some quarters of the media, reports have been quoted totally out of context.” The company said the Group has already made it clear through its press release on October 17, 2013 that it was both taken aback and concerned about money seized in one of group company’s premises.
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