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T&T founder Rohit Tandon declares Rs 125 crore to taxman after raids

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