New Delhi [India], April 21 : The Income Tax Department has uncovered significant discrepancies in the asset declarations of Trinamool Congress (TMC) MLA Debasish Kumar following a series of high-stakes search and seizure operations conducted on April 17, said sources.
The probe, centred on allegations of unaccounted income generation, has led to the seizure of high-value assets and the identification of potential violations of election and customs laws.
During the raids targeting premises linked to the MLA and his associates, officials recovered a cache of luxury assets and cash.
Diamond jewellery, gold, and bullion valued at approximately Rs 1.75 crore were seized. Rs 6 lakh in cash was found at a business entity where the MLA is a partner, according to the source.
Preliminary examinations suggest a stark contrast between the physical assets found and those disclosed in Kumar's official election affidavit. Notably, the diamond jewellery and bullion were absent from his prior disclosures. Investigators also noted "significant differences" in the volume of gold held versus what was legally declared.
The investigation has extended into the MLA's family finances. Sources indicate that the income reported in the tax returns of Kumar's spouse appears insufficient to justify the reduction in liabilities reported in earlier financial disclosures.
Furthermore, the Department is demanding a detailed explanation for the sharp spike in the MLA's overall net worth since the previous election cycle.
The net also widened to include associate Miraj D Shah. This aspect of the investigation follows a protracted legal battle after Shah moved the High Court to block the inspection of previously seized items.
Upon overcoming these legal hurdles, officials inspected gold bullion stored in the department's strong room. The findings have added a new layer of legal jeopardy.
8.08 kg of bullion was found to bear foreign markings. Information regarding the foreign bullion has been shared with the Directorate of Revenue Intelligence (DRI) to investigate potential violations of the Customs Act, said the sources.
The Income Tax Department has officially shared a detailed report of these findings with the Election Commission of India (ECI) and the Chief Electoral Officer of West Bengal for further scrutiny regarding electoral conduct.
"Notices have been issued seeking the source and ownership of the seized assets. We are also investigating the role of specific associates suspected of facilitating illicit cash transactions and investments," said the source.
While the MLA's team has yet to release a formal statement, the department is currently revising earlier tax assessments and continues its investigation into the financial network surrounding the TMC leader.
TMC MLA Debashis Kumar is contesting from the Rashbehari constituency for the upcoming West Bengal assembly elections.
Polling for the first phase will be held on April 23. For the second phase, which covers 142 Assembly constituencies, voting for this phase is scheduled for April 29, while counting of votes is scheduled for May 4.
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