Income Tax raids on housing co-operative societies | Deccan Chronicle
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Income Tax raids on housing co-operative societies

DC | 02nd Oct 2013

Bengaluru: Cracking the whip on the unholy nexus between the housing co-operative societies and private developers, the Directorate of Income Tax (Investi­gation), Bengaluru on Tuesday morning launched a search and seizure operation at over 20 premises of the Karnataka Telecom Department Employees Co-operative Society Ltd in the city and the official premises of a well known private developer in the city, who is reportedly involved in developing several layouts.

The search and seizure operations began early morning and continued through the day at several places. “The I-T sleuths have reportedly seized several incriminating documents and unaccounted cash during the day-long raids. It will take time to assess the seizures,” said an official source.

Though the I-T officials remained tightlipped, according to sources the surprise raids followed inputs from their Intelligence unit and last month’s I-T search operations at the residence of the former BJP ministers Krishnaiah Setty and S.A. Ramdas in the city and Ramdas’s brother — S. Das - in Mysore, who were earlier reportedly involved in developing some co-operative housing societies including the State telecom housing society.

“Most of the housing co-operative societies are being held hostage by the land mafia and in utter disregard to the law and Supreme Court order, the societies have become illegal land holdings of the mafia with majority of the society members being sidelined or cheated. The raids will expose the illegitimate land dealings and the unaccounted money, which has exchanged hands,” said an official source.

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