The Income Tax department has taken action against the Thrissur district committee of the Communist Party of India (Marxist) by freezing its account in a nationalized bank located in the district. This measure comes as a response to the account's absence from the party's annual returns filed with the department.
At the time of seizure, the account held approximately Rs 4.8 crore, with recent attention drawn to a withdrawal of Rs 1 crore. Following searches conducted at the bank, officials questioned M.M. Varghese, the Thrissur district secretary of the CPI(M), on April 5, confirming the withdrawal.
The I-T department noted that while several other accounts of the CPI(M) were included in the party's annual returns, the account under the Thrissur district committee was omitted. Those accountable must provide an explanation for this discrepancy and address concerns regarding the account's transactions. Additionally, the party is required to verify the source of the funds deposited into the account.
Varghese, questioned by I-T officials at the Kochi office of the Enforcement Directorate (ED) on April 5, refuted the allegations. His appearance at the ED office was part of the ongoing investigation into the multi-crore Karuvannur Service Cooperative Bank loan scam.
The I-T department's probe into the substantial cash withdrawal aligns with increased surveillance efforts against the utilization of black or unaccounted money, especially in relation to the 2024 Lok Sabha elections.ed money in connection with the 2024 Lok Sabha elections.
