Bhopal, Jan 21 (PTI) Tainted Madhya Pradesh IAS coupleArvind and Tinu Joshi whose ill-gotten wealth has been valuedat a whopping Rs 360-crore, can face penalty, prosecution orattachment proceedings soon, sources in the Income TaxDepartment said today.
Action against the suspended officer couple would betaken by the assessing wing, they said adding the departmentwants that the properties of Joshis be attached to protect theinterest of recovery.
The sources said the investigation wing of the departmenthas already asked the assessment wing to initiate attachmentproceedings under Section 281-B of the Income Tax Act 1961.
They said the assessment wing would soon initiateattachment proceedings under this section which was broughtinto force almost 35 years ago.
The Enforcement Directorate had served notices to thecouple yesterday for alleged violation of the Foreign ExchangeManagement Act (FEMA) following the the submission of a7,000-page appraisal report by the I-T department to MadhyaPradesh Chief Secretary Avni Vaish and Lokayukta P V Naolekar,giving details of their unaccounted investments.
The couple was suspended after I-T sleuths recoveredRs three crore in cash from their residence during a raid inFebruary last year.
Both Arvind and Tinu, who are 1979-batch IAS Officersof the Madhya Pradesh cadre, have held important positions inthe Centre since the late 80s.
Tinu served as Deputy Secretary in the PMO from July1, 1988 to January 1, 1990 while Arvind was Joint Secretary inthe Defence Ministry during the 1999 Kargil hostilities. PTIAS DK DK