The Income Tax department raided 38 locations in Delhi and Haryana on Wednesday in connection with a case of ‘unaccounted for cash transactions’ involving lawyer Manoj Kumar Singh, who specializes in commercial arbitration and alternative dispute resolution.
According to a statement issued by the department, Singh allegedly received substantial amounts of cash from his clients to resolve their disputes.
The department recovered Rs 3.5 crore in cash, incriminating documents pertaining to unaccounted cash transactions and investments made by him over several years, during his searches. The department has also restricted ten lockers.
Substantial digital data has also been recovered reflecting unaccounted-for transactions by the appraiser (Singh) and his associates, who are funders and builders, according to a statement issued by the Central Board of Direct Taxes (CBDT).
Investigations have revealed that in one particular case, Singh received “117 million rupees from a customer in cash, while he had shown only 21 million rupees in his records, which were received by check.”
“In another case, it received more than Rs 100 million in cash from an engineering and infrastructure company for its arbitration proceedings with a public sector company,” the CBDT said.
He added that the unaccounted for cash has been invested in the purchase of residential and commercial properties, and in the acquisition of trusts dedicated to the operation of schools.
“The recovered evidence indicates an investment of more than Rs 100 crore in cash in various properties in posh areas in the last two years. The appraiser (Singh) and his associates have also purchased several schools and properties, for which more than Rs 100 million were also paid in cash. It has also accepted accommodation tickets worth several million rupees, ”CBDT said.
According to the website of his law firm, Singh represents clients in cross-border financial disputes and investment disputes.
Singh was not immediately available for comment.
.
