IT-Who Deposited 9 Cr In Revanths Account?

Income Tax Officials raided the houses of Revanth Reddy and his Family Members. Raids were conducted based on the petition moved by Advocate Rama Rao alleging the involvement of the Congress Leader in money laundering.

Income Tax 

Revanth Reddy's Income:

Financial Year 14-15: Rs 5,70,000

Financial Year 15-16: Rs 5,70,000

Financial Year 16-17: Rs 5,93,753

Revanth Reddy Wife Geeta Sudini's Income: 

Financial Year 14-15: Rs 6,69,610

Financial Year 15-16: Rs 7,38,657

Financial Year 16-17: Rs 8,29,596

Revanth Reddy received huge amount of funds from Singapore and Malaysia. On 25-02,2014, Rs 60.09 lakh was transferred to Revanth's Account from a Malaysian Bank RHB. On the same day, He received huge amount from a Singapore Bank OCBC. As much as Rs 9 crore were deposited in the bank account of Revanth Reddy in a single day. Why didn't the Firebrand Leader mention these details in the IT Returns?

Revanth Reddy bought prime land worth Rs 12 crore in Uppal. He, however, claimed to have purchased it for Rs 1.20 crore. While Rs 70 lakh was paid to the Seller in cash, rest of the amount was offered through Third Party.

Revanth Reddy obtained a house loan of Rs 1.65 crore and paying a monthly EMI of Rs 1.65 lakh. Which means, Revanth & his Wife have been paying more than what they were earning as per records. While their combined income is anywhere around Rs 15 lakh, They were paying close to Rs 20 lakh EMI per year.

M/S Nexus Feed Ltd Company owned by Father-in-Law of Revanth Reddy's Daughter has allegedly duped banks around Rs 100 crore.

Three out of Four Cars used by Revanth Reddy belong to Software Firms. Revanth Reddy and his Family Members have been acting as partners in 30 Shell Companies. Registration Address of these companies is one and the same...that's the residential address of Revanth Reddy.

SOURCE TUPAKI: