BHOPAL: Income Tax department team has stumbled upon evidences indicating that several bureaucrats, including relatives of Arvind and Tinu Joshi, had invested heavily in various projects of Faith Builders and Associates.
I-T sleuths’ search operations continued on Friday. While operations at half-a-dozen small premises concluded, many teams remained busy in analyzing documents at about 10 premises where raid began on Thursday.
The search operations would continue for one more day as well, said an IT official.
I-T teams came across documents in form of agreements indicating transactions in cash. Most of these transactions were above Rs 1 crore. Some documents belonged to retired bureaucrats, including relatives of former IAS officers Arvind and Tinu Joshi.
Sources indicated that Joshis relatives had partnership in some ventures of Raghvendra Singh Tomar’s Faith Builders project. Joshi couple hogged limelight in February 2010 when I-T officials recovered cash amounting to Rs 3 crore during a raid on their premises.
I-T officials said that several partners on paper (of Raghvendra Tomar) did not have resources to invest heavy amounts that they did, indicating involvement of people with black money. ‘There is a huge disparity in the Income Tax returns of Faith Builders and their assets,’ said the official.
Cricketers wary of their investments
A few cricketers too had invested their hard earned money in Tomar’s cricket academy. Besides others, a young player from Madhya Pradesh now playing at national level had also invested his hard earned tax paid money. He is now worried about his investments. Income-Tax officials have assured that anyone who has invested their accounted money with Faith Builders will face no problem.
