Thrissur: The Income Tax Department is set to investigate the financial transactions of the CPI(M) Thrissur District Committee for the last 10 years. It is reported that the CPI(M) party’s direct bank accounts at nationalized banks and cooperative banks under the party’s control will be subjected to the investigation.
The investigation will mainly focus on the following questions:
1. Were the accurate data records available on the depositors for the funds?
2. Was there an intentional effort to conceal information from the Income Tax Department about withdrawals from these funds?
3. Does any amount credited to the account originate from the Karuvannur Cooperative Bank scam?
Simultaneously, the Enforcement Directorate (ED) is inquiring whether CPI(M) leaders have any benami accounts in banks.
This decision follows a report by the Enforcement Directorate (ED) to the Union Finance Ministry regarding the Karuvannur Cooperative Bank scam case, stating that MM Varghese (Thrissur District Secretary), AC Moideen (former Minister), and MK Kannan (CPI(M) state committee member) have not submitted any data to the ED.
Following this, the Union Finance Department decided to involve the Income Tax Department and the Reserve Bank of India’s support in the investigation.
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