Taxbusters: IT sleuths attach Rs 3 crore benami assets of ASI Mohan Reddy

KARIMNAGAR: Income Tax sleuths—the benami properties tax wing, to be precise—attached benami assets, approximately worth `3 crores, of tainted Assistant Sub-Inspector Bobbala Mohan Reddy located near Ambedkar Stadium Road in Karimnagar on Friday. Tax officials slapped notices on the walls of the building attaching it under section 24(4)(b)(i) of the Benami Transaction (Prohibition) Act, 1988.

About a week ago, the IT Commissioner in Hyderabad had visited Karimnagar and had directed the district IT sleuths to attach the aforementioned benami assets of the tainted official. Sources in the IT department said that several other properties of the accused would also be attached over the next few days.Interestingly, just about an hour after the officials slapped notices on the property under the name of his wife, Latha, the supporters of the ASI allegedly tore them off the walls.

ASI Mohan Reddy was arrested for running a private money-lending business through which he forcefully acquired benami assets worth several crores back in November 2015.Tax officials had launched an operation against him based on complaints registered by representatives of Victims of ASI Mohan Reddy Association Musuku Mahender Reddy and Bandameeni Sayanna on March 21, 2017.Mohan Reddy was released on bail from the Warangal Central Jail 15 days ago. He was arrested for his role in the disproportionate assets case.