Income Tax department on Friday seized the property belonging to Shiv Sena corporator and Standing Committee chairperson of Brihanmumbai Municipal Corporation, Yashwant Jadhav. 41 properties belonging to Shiv Sena leader Yashwant Jadhav have been seized. 31 flats in Byculla and one flat in Bandra worth Rs 5 crore have been confiscated by the Income Tax Department.
The Income Tax Department had raided Jadhav's house and property a few days back. Following the information they received in the raid, confiscation action has now been taken.
What does the income tax report say?Shiv Sena leader and Mumbai Municipal Corporation Standing Committee Chairman Yashwant Jadhav and his wife MLA Yamini Jadhav have embezzled crores of rupees, according to a report by the Income Tax Department.
Action has been taken against Yashwant Jadhav under section 1329 (b) of the Income Tax Act. Jadhav, a Shiv Sena leader in Mumbai Municipal Corporation, lives in Byculla. He has 31 flats in a building in the same area. All these flats have been confiscated. A few days back, the Income Tax Department had raided Jadhav's property. This action lasted for 3 days. The properties were purchased in the name of Jadhav's relatives through the company of contractor Bimal Agarwal. For this, cash transactions were made. The action of the income tax department revealed that this amount was unaccounted for. The income tax department suspects money laundering in this case. Therefore, Jadhav is likely to be questioned by the ED soon.