I-T detects $50-million transfer in Yash Birla 'tax-evasion' probe

A single transaction involving a transfer of $50 million between Mumbai and Singapore was detected by income-tax (I-T) officials probing an alleged tax evasion case against Yash Birla Group, sources said.     

"We have found this transaction in an account we believe belongs to Yash Birla," I-T sources said adding this account had nothing to do with the group.

Emails and phone calls to the Yash Birla Group remained unanswered. The probe, sources said, was on to trace the recipient of the reported transfer to a multi-national bank in Singapore.