Chennai

Jayalalithaa declared only four properties as her assets, I-T department tells HC

Veda Nilayam, Jayalalithaa’s Poes Garden residence, was attached way back in 2007

Veda Nilayam, Jayalalithaa’s Poes Garden residence, was attached way back in 2007   | Photo Credit: G_SRIBHARATH

Her tax liabilities were to the tune of ₹16.74 crore as of 2018-end

The Income Tax Department on Thursday told the Madras High Court that former Chief Minister Jayalalithaa owned movable and immovable assets worth only ₹16.37 crore as per annual income tax returns filed by her on March 31, 2016, but her liabilities towards wealth and income taxes was around ₹16.74 crore as on December 31, 2018.

Appearing before a Division Bench of Justices M.M. Sundresh and C. Saravanan, senior standing counsel for the I-T Department A.P. Srinivas submitted a report which stated that Jayalalithaa owned only four immovable properties as per her declaration and all of them were under attachment for long for the recovery of income tax arrears.

While Veda Nilayam (her Poes Garden residence in Chennai), a commercial space at Parsn Manere at Anna Salai here and a residential property at Sri Nagar Colony in Hyderabad were attached way back in 2007, one more property on St. Marys Road in Chennai was attached in 2013 and the information was also passed on to the Registration Department.

In her I-T returns, the former Chief Minister had listed only these properties and stated that the value of the lands owned by her was ₹1.52 crore and the value of the buildings was ₹3.82 crore.

She had also disclosed bank deposits to the tune of ₹10.47 crore, jewellery worth ₹12.5 lakh, motor vehicles worth ₹42.25 lakh and ₹15,086 of cash in hand.

Apart from these, she had 50% share in the profit from Kodanad Estate, Royal Valley Floritech Exports, Jaya Publications and Sasi Enterprises and 77% in Green T Estate. Her total amount of share in the profits from these firms was ₹7.88 crore and the total capital balance of the firms as on March 31, 2016 was ₹40.03 crore.

The report filed by G. Shoba, Deputy Commissioner of Income Tax, Central Circle 2(2), Chennai, was in connection with the arrears of wealth tax for about 17 financial years since 1990-91 and the total arrears, along with interest, as on December 31, 2018 was ₹10.12 crore. Similarly, her arrears of income tax since 2005-06 had accumulated to ₹6.62 crore.

Contesting claims

The details were submitted during the hearing of contesting claims made by Jayalalithaa’s nephew J. Deepak and niece J. Deepa on the one hand and two AIADMK members K. Pugazhenthi and P. Janakiraman on the other seeking ‘Letters of Administration’ to manage the properties left behind by her.

The judges had during the last hearing directed Mr. Srinivas to submit details of Jayalalithaa’s assets and liabilities before commencing the hearing on pleas for issuance of Letters of Administration. After taking the Income Tax Department’s report on file on Thursday, they adjourned further hearing on the civil cases after June 3.

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Printable version | Jul 29, 2020 12:07:15 AM | https://www.thehindu.com/news/cities/chennai/jayalalithaa-declared-only-four-properties-as-her-assets-i-t-department-tells-hc/article26947187.ece

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