Home / Latest News / Ex-CJI’s Family ammassed properties worth Crores of rupees in short time and hid it from Income Tax, reveals probe

Ex-CJI’s Family ammassed properties worth Crores of rupees in short time and hid it from Income Tax, reveals probe

February,15,2017:

J. Balakrishnan
J. Balakrishnan

Centre’s Report in SC say nothing Found Against J. Balakrishnan.

The income tax assessment report of KG Balakrishnan former Chief Justice of India & his relatives, which has been placed in the Apex Court, revealed that his family members hadn’t disclosed crores of income which was found out by the I T department during the assessment of their assets.

The report was filed by the Centre in the Supreme Court, which is hearing a PIL, seeking an Special Investigation Team probe against them alleging that properties worth crores of rupees were purchased by him and his family members during KG Balakrishnan’s tenure at the Apex court.

Report contains assessment of incomes of his daughters, brother and sons-in-law from financial year 2005-2006 to 2012-2013. The report said there wasn’t anything against the ex-Chief Justice but it revealed that his family members had undervalued their assets, finally settled the case after paying tax on the income assessed by the I. T. Department.

It says that income as per ROI of his son in law P V Sreenijan in 2009-10 was ₹26.61 lakh but the assessed income was found to be around ₹1.64 crore. Similarly, in 2010-11 his income was shown as ₹47.47 lakh , but was assessed at ₹2.11 crore. He had to pay Rs 1.02 crore as tax and interest.His other son-in law MJ Benny, the report says his income as per ROI was ₹28.94 lakh in 2010-11, but assessed income was ₹1.79 crore and he had paid ₹97.73 lakh as interest & tax.The report says income of his daughter KB Sony was ₹38.69 lakh as per ROI but was assessed at ₹1.67 crore.

Although the Centre contended that the IT department had given clean chit to Balakrishnan and his family for allegedly amassing disproportionate & benami assets, it admitted that some properties had been undervalued undervalued by them but now they had paid taxes as per the market value.

The Centre’s contention was opposed by the advocate Prashant Bhushan who told a bench headed by Justice Dipak Misra that these “shocking revelations“ should be probed by some independent agency.

AG Mukul Rohatgi had earlier told the Supreme Court that the IT wing had conducted a probe which failed to find out any evidence of DAs against them.

Appearing for NGO Common Cause, Bhushan said, 21 properties were bought by KG Balakrishnan’s relatives whose source of income was limited and also produced sales deeds of the properties before the court.

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