The Income Tax Department has slapped a penalty of Rs 20,000 crore on four associates, including businessman Kashinath Tapuriah, of Hasan Ali Khan who is accused of stashing huge amounts of black money in foreign banks.
"A penalty of about Rs 20,000 crore has been slapped on associates of Hasan Ali Khan," Revenue department sources said.
Besides Tapuriah, who is in Enforcement Directorate's custody, the Pune-based stud farm owner's three associates are Chandrika Tapuriah, Syed Ahamad Abbas Naqvi and R M Investments and Trading Company Pvt Ltd. Chandrika Tapuriah is the wife of Kashinath. They faced a tax demand of Rs 13,000 crore over which penalities have been added.
Hasan Ali is facing a Rs 70,000 crore tax demand notice from the I-T department as well as the Enforcement Directorate (ED). He is in judicial custody now.
According to a report of the Comptroller and Auditor General of India (CAG), Hasan Ali and Tapuriahs owe the government about Rs 75,000 crore in taxes.
It also said that out of Rs 2 lakh crore that remained uncollected in 2008-09, "one group namely Hasan Ali alone accounted for Rs 71,874 crore of uncollected demand".
CAG also said Hasan Ali's income multiplied by over 100 times in six years from Rs 529 crore to Rs 54,268 crore in 2006-07.