Hyderabad, April 14: A special central range (special cell) has been created within the Income Tax department to exclusively probe the investments and transactions of Satyam Computers (now renamed Mahindra Satyam) since 2003. This move, sources said, was to carry out a deeper scrutiny of transactions before the Rs 7,000 crore fraud surfaced.
Sources disclosed to Express that the cell has been formed to probe various irregularities for six years. Notices will be issued under Section 148 of the IT Act and the probe is expected to start shortly.
Officials of the special central range will re-open the IT returns filed by the company, assess the investments and transactions for the six years which is likely to bring out more facts pertaining to the functioning of the company prior to the scam.
Sources said orders have been issued posting two IT officials of the rank of assistant commissioner and deputy commissioner to the special central range and an officer of the rank of additional commissioner will be posted during the annual general transfers in May.
“Once notices are issued, the officials will go into minute details which will take some time. This probe will be independent of the ongoing investigation by the CBI,’’ they added.
–Agencies