ED starts probe against Moin Qureshi in tax evasion case
6 Feb 2015 11:37 PM GMT
It was learnt that the Income Tax department has recently shared its appraisal report against Qureshi’s dubious business dealings. “We are going through the report to find out any violations under the Foreign Exchange Management Act (FEMA) by Qureshi and his firms or not,” ED sources said.
“IT probe claimed that Hawala transactions were made to overseas locations by Qureshi, which we are analyzing,” he added.
Sources said, ED has found that illegal funds being routed to Hong Kong and some European locations by using ‘Hawala’ channels which entails skipping the legal banking route to move huge amounts of money with an aim to avoid enforcement agencies.
Since, ED is the authorized to probe crimes under FEMA laws. IT has shared its appraisal report to them. “Preliminary inquiry revealed that Qureshi has evaded Rs 200 crore as tax. Also, the appraisal report prepared by the IT claimed that there was an ‘astonishing’ state of affairs between Qureshi and former CBI Director AP Singh, who has recently resigned from the UPSC.
Sources said that the probe agencies are having evidence of conversations between Singh and Qureshi on a daily basis in code words on issues including helping accused in some cases.
Qureshi’s dubious activities and his connection with the people in the power of corridor including the former CBI chief was first broke by the Millennium Post on February 22, 2014.
“IT probe claimed that Hawala transactions were made to overseas locations by Qureshi, which we are analyzing,” he added.
Sources said, ED has found that illegal funds being routed to Hong Kong and some European locations by using ‘Hawala’ channels which entails skipping the legal banking route to move huge amounts of money with an aim to avoid enforcement agencies.
Since, ED is the authorized to probe crimes under FEMA laws. IT has shared its appraisal report to them. “Preliminary inquiry revealed that Qureshi has evaded Rs 200 crore as tax. Also, the appraisal report prepared by the IT claimed that there was an ‘astonishing’ state of affairs between Qureshi and former CBI Director AP Singh, who has recently resigned from the UPSC.
Sources said that the probe agencies are having evidence of conversations between Singh and Qureshi on a daily basis in code words on issues including helping accused in some cases.
Qureshi’s dubious activities and his connection with the people in the power of corridor including the former CBI chief was first broke by the Millennium Post on February 22, 2014.
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