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10 Feb 2016

Hasan Ali Case: ED raids in 6 cities

Hasan Ali: India's largest tax defaulter

The Enforcement Directorate conducted searches on at least 12 premises in 6 cities in connection with Hasan Ali's tax evasion case.

Around 30 ED officials conducted the raids along with state police units and recovered Rs.26.3 lakh in cash, documents and computer hardware containing information.

ED also raided premises of Khan's alleged accomplices Kashinath Tapuriah and a Swiss hotelier in Kolkata and Gurgaon respectively.

In context

Hasan Ali: India's largest tax defaulter

Introduction

Who is Hasan Ali Khan?

Hasan Ali Khan, is a Pune-based real estate consultant and stud farm owner.

The IT department raided his residence in 2007 and seized documents that showed $8.04 billion in a Zurich branch account of UBS.

The IT department sent a notice to Khan on 31 December 2008, demanding Rs.40,000 crore in taxes for not disclosing funds in foreign bank accounts.

Hasan Ali Khan's Swiss bank accounts

In 2007, the ED sought details of Khan's Swiss bank accounts in a letter rogatory. But, the Swiss banks refused to share the information saying that not filing tax returns in India was not an offence under the Swiss law.

Hasan Ali Khan arrested by ED

17 Mar 2011

Hasan Ali Khan arrested by ED

The Enforcement Directorate arrested Hasan Ali Khan on charges of stashing away billions of dollars in foreign banks and evading taxes on 17 March, 2011.

He was later shifted to the high security 'anda cell' in Arthur Road jail after being kept in the ED's custody for 7 days.

The ED registered the case against Hasan Ali under the Prevention of Money Laundering Act.

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Hasan Ali, India's highest tax defaulter

Hasan Ali Khan was declared India’s highest tax defaulter with alleged dues of over Rs.50,000 crore. If interest for belated payments was included, it exceeded Rs.70,000 crore. Ironically, he is the son of a Hyderabad excise officer.

2 Sep 2015

Bombay High Court grants bail to Hasan Ali

Hasan Ali Khan was granted bail by the Bombay High Court in seven cases filed by the IT Department for tax evasion commited between 2001-2007.

Mr Ali's lawyers Abaad Ponda and Ranjeet Sangle argued he had filed IT returns for this period belatedly in 2007.

​He was granted bail by Justice Abhay Thipsay at Rs.1 lakh per case.

10 Feb 2016

Hasan Ali Case: ED raids in 6 cities

The Enforcement Directorate conducted searches on at least 12 premises in 6 cities in connection with Hasan Ali's tax evasion case.

Around 30 ED officials conducted the raids along with state police units and recovered Rs.26.3 lakh in cash, documents and computer hardware containing information.

ED also raided premises of Khan's alleged accomplices Kashinath Tapuriah and a Swiss hotelier in Kolkata and Gurgaon respectively.

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