Earning My Money

THE efforts to nail the contractors of the Commonwealth Games,for their attempts to play around with their financial bottom line,gained momentum on Thursday with the income-tax department carrying out searches and surveys at 50 premises owned by four infrastructure and sports equipment firms.
The four contractors had executed almost all the works related to the Games,from laying synthetic turfs and tracks at the sporting venues to the beautification drive undertaken across the metropolis.
While Shiv Naresh Sports,which has its headquarters in the Capital,was involved in laying synthetic track surfaces at the Games venues and supplying sports gears and accessories,Sweka PowerTech Engineers,which too has its base here,re-erected all the electric poles before the 13-day event and undertook the streetlighting all across the Capital.
Delhi-based Satya Prakash and Brothers carried out all the streetscaping and beautification drive from Dhaula Kuan to the Talkatora Stadium,including the areas falling behind the Rashtrapati Bhawan.MBL Infrastructure,which is headquartered at Kolkata,but has its office premises in Mumbai,Bangalore,and Jamshedpur too,did the beautification in the rest of the city.The department conducted raids at all its addresses in the four cities.
The idea behind Thursdays exercise,CBDT sources pointed out,was to prevent these firms from inflating their expenditure and deflating their profits,and show corresponding figures while filing their returns.In that sense,it was a pre-emptive strike which was carried out by the income-tax department.
Our attempt was to assess the quantum of contracts executed and the expenditure incurred by these firms on execution of these contracts,so as to ascertain the correct profits made by them, CBDT sources said.


PRABHAKAR MANI
PGDM 1 SEM