The state finance minister and senior leader of CPM has decried the Income Tax raids conducted at the office of the Kerala Infrastructure Investment Fund Board(KIIFB). He described the raid as pure “Hooliganism” and added that the raids were aimed to tarnish the image of KIIFB with an eye on elections.
A 15-member team from the Income Tax (I-T) Department carried out an inspection at the Kerala Infrastructure Investment Fund Board (KIIFB) headquarters on Thursday, in connection with the institution’s alleged violation of the Foreign Exchange Management Act (FEMA).
KIIFB officials handed over details of projects implemented over the past five years, funds allotted to various contractors and tax-related documents to the I-T team. The department had recently served a notice on KIIFB directing it to submit the said documents before March 25.