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The Income Tax Department has frozen the bank account of the CPI (M) Thrissur District Committee. The action reportedly is based on the finding that the account was not reflected in the annual returns filed by the party.
On Friday, the Income Tax Department inspected the transactions of the CPI (M) party account at a National bank branch in Thrissur. The account was opened in 1998 and has 4.8 crore in the account. The Income Tax Department has informed the CPI (M) leadership that the freeze can be lifted after the income tax payment documents are produced. Meanwhile, CPIM Thrissur District Secretary MM Varghese has said that the party has nothing to fear from the inspection and all the transactions are legal. "CPI (M) has an edge in the election and it is to prevent it," he said. "CPIM has nothing to hide. It is a party working per law and its accounts are accurate. Now everybody knows that there is an edge for CPI (M) across the state. In Thrissur in all three constituencies - Thrissur, Alathur and Chalakkudy, the party have a clear edge and even the opponents have admitted it. This is an attempt to prevent that. Whoever tries, LDF will get a good win in Kerala and in Thrissur district, three candidates of LDF will win in the best way", he said. In a statement issued, the CPI(M) clarified that its income-expenditure accounts are regularly submitted to both the Income Tax Department and the Election Commission annually, including those of the Thrissur District Committee. The party emphasised its commitment to transparency and accountability, asserting that all financial records have been diligently provided as per protocol. Additionally, the CPI(M) reaffirmed its staunch opposition to any wrongdoing, particularly concerning issues related to cooperative banks in Thrissur. Attributing the account freeze to political vendetta, the CPI(M) accused the BJP-led central government of leveraging central agencies to settle scores during the election period. (ANI)
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