Rohit Tandon declares Rs 125 crore in revenues after IT dept raids office, interviews associatesRohit Tandon declares Rs 125 crore in revenues after IT dept raids office, interviews associates

T&T Law founder and managing partner Rohit Tandon has declared Rs 125 crore in unaccounted income to the tax department, after a raid on his residence and office around 6 October, we have learned from authoritative sources with knowledge of the matter.

The Times of India first reported today that a Delhi lawyer had made the declaration, though it did not name the lawyer. The TOI also wrote that the raid on Tandon “coincides with a larger I-T drive against ‘consultants’, ‘lobbyists’ and others with a reputation for getting things done”.

Pioneer journalist J Gopikrishnan had also named Tandon as the subject of the TOI article on Twitter earlier today.

We have reached out to Tandon for comment via email and phone earlier today.

We understand that associates and staff at T&T’s Delhi office in Greater Kailash-I were interviewed by income tax department officers around 6 October, which follows the passing of the 30 September deadline of the government’s voluntary income disclosure amnesty scheme.

According to the TOI, the department had evidence of Tandon’s alleged investments in properties through shell companies, and was continuing to collate evidence.

However, we understand that voluntary disclosure of undeclared assets and paying any taxes and penalties potentially due on those amounts can be used to settle to settle any alleged liabilities with the tax department, which also has an incentive to avoid protracted legal battles with lawyers.

Tandon is also the founder of Zeus Law Associates, which he set up around 2005 and exited around February 2014 to start T&T, leaving his brother-in-law Sunil Tyagi and partner Vivek Kohli in charge of Zeus as we had reported at the time. Tandon had said back then when interviewed that the exit was “extremely amicable” and that he planned to open offices for T&T in Dubai and Chandigarh.

In July 2014, the Economic Times had reported that Tandon had bought a bungalow from the Ruia family, which promotes the Essar group, for around Rs 100 crore.

According to the ET, Tandon had bought the bungalow in Delhi’s Jor Bagh area (which has 12,000 sq ft of built-up space on a 1,250 square yard plot) via a special purpose company called Devlin Corp, in which Tandon and his son are co-directors.

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1
Like +8 Object -1 Query 20 Oct 16, 18:37  interesting
They should disbar (...).
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Like +2 Object -5 coke 21 Oct 16, 15:48
disbar for what?..does tax evasion results to professional misconduct?
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Like +6 Object -1 Sparta 20 Oct 16, 19:12  interesting
"puff* *puff* ho jayega!!!
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Like +12 Object -1 hubba 20 Oct 16, 19:32  interesting
on a legal site did you seriously say "co-directors"? :P
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Like +1 Object -8 kianganz 21 Oct 16, 12:42
Lol, what's wrong with co-directors?
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Like +9 Object -0 Feel like Trolling but 20 Oct 16, 21:53  interesting
inke paas itna hai toh hamare firm waale toh.. OMG..
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Like +2 Object -7 Varun1 20 Oct 16, 23:34
This need not necessarily be black money.
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Like +6 Object -0 @Varun 1 21 Oct 16, 13:33  interesting
Cant say that. Then why was this not declared yet ? And why would the source be questioned ?
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Like +1 Object -0 jail 21 Oct 16, 09:23
will he and the directors be sent to jail? or only fine? tax lawyers please advise.
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7
Like +4 Object -0 Known 21 Oct 16, 11:57
"Devlin Corp".... Sounds like "Devil n' Corp." :D
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Like +1 Object -1 Summons 21 Oct 16, 12:33
I admit, I am sorry :p
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9
Like +9 Object -1 Oberver 21 Oct 16, 13:56  interesting
Vatu, et tu?
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Like +4 Object -1 Unknownsatan 21 Oct 16, 14:07
Kian, just find out how much is Abhishek Manu Singhvi & Harish Salve's income or thereabouts income? That should also be quite high but maybe not 100crore ! Singhvi also has other sources of income like agriculture & farming from what i read.
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Like +3 Object -5 Why 21 Oct 16, 14:29
And WHY do YOU want to know? I dont get thi innate desire and curiosity for what others make in terms of money. Focus on what YOU make and be happy in that. If you want to make money like them then BE like them.

Asking about others income is just plain and simple rude.
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Like +1 Object -0 Unknownsatan 21 Oct 16, 20:22
if what movie stars make is an open secret, what is wrong in knowing what people from your own profession make!
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Like +2 Object -0 kianganz 21 Oct 16, 14:31
Well... Salve said he had paid Rs 175 crore in tax in about 8 years:
http://www.legallyindia.com/bar-bench-litigation/harish-salve-panama-papers-coverage-unfair-privacy-invasion-disclosed-all-investments-paid-rs-175-cr-of-tax

Any tax wizards here who would wager an extrapolation of his income over those years?
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Like +1 Object -1 m1 21 Oct 16, 14:21
125 cr is chicken feed. The top guys earn probably more than 125 per year. Any top guy makes an average of atleast 5-10 per month.
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Like +21 Object -1 Ghonshu Ram 21 Oct 16, 17:00  interesting  top rated
I am also charging the Rs 125 per hearing in the mufossil cort. My clients are sabjiwallas, rikshaw drivers and their brothers. But sometimes they also do bargaining. Instead of money, they give free rikshaw ride, or nimboo or narael or something like that. If I increase me fees to Rs. 150, I can get tarbhooj or patta gobi or karela also I feel.

My question is to the wealth advisers and tax experts reading the legally India - whether I am required to pay the tax on my vegetable income? If I don't pay - should I disclose to Income Tax officer?
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Like +1 Object -1 Anna Academic 25 Oct 16, 12:17
You can claim a state of vegetation to claim exemption from taxation.
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Like +1 Object -0 Ghonshu Ram 25 Oct 16, 13:30
Thank you, Anna. I likes your answer. But which state? I am in UP. Is vegetation in UP exempt? Also, the service tax mans also came yesterday to collect the service tax. I told them about the nareal and gave them pani of nareal after doing little jhoota. Is that okay in UP?
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Like +0 Object -1 Guest 21 Oct 16, 23:26
india has so much of black money that 8 pak could be entered in it...abt 1800 bn$only in swiss bank
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Like +4 Object -1 Fixer Gone for Sixer 21 Oct 16, 23:55
"the raid on Tandon “coincides with a larger I-T drive against ‘consultants’, ‘lobbyists’ and others with a reputation for getting things done”. Or in common parlance "fixer".

Under Modi's regime it is hard times for members of this tribe.

P.S. If it ain't broke, don't fix it.
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Like +0 Object -1 Lana 28 Oct 16, 00:11
It can't be 125 crore, it should be 12500 crore.
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Like +0 Object -0 New News 11 Dec 16, 13:49
Kian, you may want to cover this bit on T&T - http://www.ndtv.com/delhi-news/rs-2-5-crore-in-new-notes-among-rs-10-crore-seized-from-delhi-law-firm-1636466?pfrom=home-lateststories
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