8:51 AM

Today I-T department releases Rs 400 crore belonging to Mayawati's brother. Few days back CBI closes corruption case against Mayawati.

According to the report income tax department has released Rs 400 crore in fixed deposits belonging to her brother Anand Kumar and his group of companies, holding the money to be legit.

The I-T department, which had seized the deposits in June, has held that the cash was kosher since Anand had paid tax on it.

The I-T department had happened upon Anand's fixed deposits during a raid on the Kaushambi-based luxury hotel. His companies had made two drafts for Rs 395 crore as collateral for a loan that the hotelier had sought from public sector Housing and Urban Development Corporation for the purchase of 60 acres.

Kumar claimed that his money was clean, and cited the tax he had paid as proof. The I-T department accepted his arguments after four months.


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