The Indian AML Watchdog has attached the property of Shri Andasu Ravinder. He is the Additional Director of Income Tax.
Who filed the complaint?
ED has carried out searches on the property Worth 7 Crore assets case against Shri Andasu Ravinder, Additional Director of Income Tax. He is retired from the service. He was accused for the disproportionate of assets.
What is Disproportionate Asset?
Disproportionate assets is regarded as it shows the individual’s net economic assets exceeds the assets that he or she possess. It means it is an undisclosed wealth. The excessive assets are acquired through the corrupt practices.
When a person curtails his or her undisclosed possessions and he or she is trapped in the eye of law such person is executed as per the law of the land under the head Disproportionate Asset case. It is necessary to draw attention in this scenario that people of India is unaware of the benefits of taxation system. The basic ideology of the people is that our earnings are ours and it is non-sense to pay to the government.
Investigating the Shri Andasu Ravinder Case
The CBI, ACB has registered an FIR on Sh. Andasu Ravinder. ED investigated the case and came initiated the money laundering investigation. It was observed that he undisclosed his wealth that was in his name. The same was done in the case of his wife for the period of 1.1.2005 to 29.8.2011. The undisclosed wealth was amounting to Rs. 2,32,20,296/-. It was calculated 171.41%. It showed as disproportionate to the overall income of Shri Andasu Ravinder and his wife Smt.Kavitha Andasu.
He was also involved in the criminal conspiracy.Thus, the said immovable properties having prescent market value of Rs. 7,33,81,701/- derived from the proceeds of Crime defined under Section 2(1)(u) of PMLA were provisionally attached vide PAO dated 30.09.2022 .
Earlier in the same case, the illegal gratification of Rs.50 Lakhs alleged to have been delivered on 29.08.2011 to Sh.Andasu Ravinhttps://www.binance.com/en/blog/421499824684902218/Binance-Listing-Tips-from-CZder at his residence relating to certain favours extended by the official resolving tax related disputes was provisionaly attached and subsequently confirmed by the Hon’ble Adjudicating Authority, New Delhi under Section 8(3) of the PMLA, 2002 during 2018.
