An Income Tax Department probe revealed the couple utilized forged documents, including manipulated bank statements that disguised personal expenditures as political contributions, to avoid paying Rs 5.3 crore. Authorities discovered an allegedly AI-generated loan certificate for Yale University, despite no family members ever attending the school. The investigation also exposed conflicting sole-ownership claims on a joint property to wrongfully secure housing deductions while concealing rental earnings. Furthermore, officials discovered the couple used portions of the scrutinized funds to buy roughly half a dozen properties.
Key points
Fabricated deduction claims under Section 80GGC triggered the broader probe that exposed…: Fabricated deduction claims under Section 80GGC triggered the broader probe that exposed the multi-crore tax evasion scheme.
Digital manipulation was extensively deployed to disguise credit card bills, personal tra…: Digital manipulation was extensively deployed to disguise credit card bills, personal transfers, and settled loans as legitimate deductible expenses.
The scrutinized capital was funneled into real estate acquisitions encompassing approxima…: The scrutinized capital was funneled into real estate acquisitions encompassing approximately half a dozen property purchases.
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Income Tax Department's investigation also uncovered allegedly manipulated bank statements, housing loan claims on a property that had already been rented out and undisclosed rental income of Rs 10 lakh to Rs 16 lakh. The couple had also purchased around half a dozen properties using some of the funds, according to the investigation, reports TOI.
How a Rs 50 donation became a Rs 40 lakh tax deduction
The investigation began after the wife's income tax return showed a deduction of more than Rs 40 lakh for a political donation.Under Section 80GGC of the Income Tax Act, eligible donations made to registered political parties can qualify for a deduction from taxable income, subject to applicable conditions. This reduces the income on which tax is calculated.
However, her Form 16, which records salary and tax-related details provided by her employer, showed deductions of only around Rs 1.2 lakh.
When officials checked the political donation claim with the party concerned, they found that the woman had actually donated just Rs 50 and had received a receipt for that amount.
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