Hasan Ali Khan, the Pune-based real estate consultant and stud farm owner, who is alleged to have stashed away over $ 8 billion in foreign banks, today appeared before Income Tax authorities, apparently in connection with notices issued to him over huge tax evasions.

I-T department had sent a show-cause notice on December 31, 2008 to Mr. Khan, demanding Rs 40,000 crore in taxes from him for not disclosing funds in several foreign bank accounts, including $ 8 billion in an account in the Zurich branch of UBS.

However, the UBS bank had recently denied any business relationship with Mr. Khan.

Though IT officials said Mr. Khan was present in the Assessment wing of their office at Churchgate and his statement was being recorded, they did not immediately confirm if he had appeared in connection with the 2008 notice or any other that might have been issued to him before or after that.

Earlier, in January 2007, the I-T department had raided Mr. Khan’s residence at Koregaon Park in Pune and had seized documents that showed that he had $ 8.04 billion in a UBS account in Zurich.

The raid followed a revelation that Mr. Khan had allegedly concealed his income and not filed income tax returns since 1999. The Department had also raided his properties in Mumbai and Hyderabad.