Now IT turns towards Nimmagadda’s investments in Jagan companies

Posted : April 4, 2013 at 8:32 pm IST by ManaTelugu
The problems of Y S Jaganmohan Reddy appear to be far from over. Now the Income Tax department is setting its sights on the investments made by industrialist Nimmagadda Prasad in the companies of Y S Jaganmohan Reddy.

It may be mentioned that the CBI informed the court that there was need to estimate the income of Jagati Publications for the year 2012 – 2013. As per the contention of the CBI, the IT department started looking at the investments into Jagan’s companies.

It authorities requested the CBI court for a copy of the charge sheet filed by the CBI in the Vanpic issue, for computation of the income of Jagati Publications. The department also asked for the agreement papers and other note sheets. The CBI court granted permission.

The CBI filed charge sheet in the Vanpic case on August 13 last year. That was the fourth charge sheet. When IT authorities approached the CBI for a copy, the agency said it should take it only through the court. Following this suggestion, the IT department filed a petition on December 3 for the copies. Now that the court gave the permission, IT authorities are concentrating on the Vanpic case and Nimmagadda’s investments in Jagan’s firms.

It may be recalled that CBI has alleged that Nimmagadda too undue benefits from the late Chief Minister Dr. Y S Rajasekhara Reddy and invested in Jagan’s companies. The agency also arrested Nimmagada. He is presently in Chanchalguda jail along with Jagan. CBI also made former Revenue Minister Dharmana an accused in the Vanpic case.