But then, when we woke up after a 3-hour sleep, we were astonished to see that a blatant attempt had been made by the government's spin-masters to say that the action was part of a year-long investigation into some Long-Term Capital Gains (LTCG) scam, whereby Raghav Bahl and Ritu Kapur had made "bogus" income of Rs 118 cr. Without much ado, here are the facts of that case (not claims):
* All these and other gains/losses were fully detailed/declared in the appropriate year of tax filings; and more importantly, were accepted and assessed to tax, under this very government!
* So the attempt to "colour" our tax returns, now, as "bogus", is clearly a frame-up, and we shall take every legal recourse to protect our fair name and reputation in this case
>I-T searches media baron for 'tax evasion'The probe against Bahl gained momentum last year with disclosures in the Paradise papers, where investment trails led the officials to investigate transactions of Rs 200 crore made by three companies and their associated firms registered in tax havens such as Cayman Islands, Cyprus and Mauritius, sources said.
This news has been published by title Statement By Raghav Bahl, Ritu Kapur & Quintillion Media Group Post I T Raids
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