New Delhi: The Comptroller and Auditor General of India (CAG) on Friday said Pune-based stud farm owner Hasan Ali Khan, along with two others, owes the government about Rs 75,000 crore in taxes.
The Income Tax Department is taking action against Hasan Ali, Kashinath Taporia and Chandrika Taporia to recover the tax dues, the CAG report tabled in Parliament said.
Hasan Ali, who is accused of money laundering and stashing funds in tax havens, is in the custody of the Enforcement Directorate.
The report said Hasan Ali had not filed income tax returns despite over 100-fold increase in his income in six years.
His taxable income, according to the assessment made by I-T authorities, jumped from Rs 528.9 crore in 2001-02 (assessment year) to Rs 5,404.7 crore in 2002-03. Thereafter, it soared to Rs 54,268.6 crore in 2006-7.
The report further said that Hasan Ali did not file income tax returns for five assessment years, from 2001-02 to 2003-04 and 2005-06 and 2006-07.
He filed the tax returns for these years in May 2007 after I-T notice following search operations.
In its report last year, CAG had said Hasan Ali and his associates owed Rs 71,874 crore in taxes.
Briefing reporters about the latest report, Anupam Kulshrestha, Deputy CAG, said the I-T department took note of the observations of the CAG report on Hasan Ali and others and has included interest on tax liability.
"We found mistakes in assessments of the same (Hasan Ali) group of high risk assessees. There were two cases of short levy of tax on Rs 3,369.9 crore and three cases of overcharge of tax of Rs 304.9 crore. The (I-T) department has taken remedial action in all five cases," the report said.
Following the rectification of mistakes, the total tax liability of Hasan Ali and two others would go up to Rs 74,938 crore as against Rs 71,874 crore estimated earlier.