Kochi: In a major blow to the ruling left front, the Income Tax (IT) Department froze the account of CPM’s Thrissur district committee at Bank of India due to alleged discrepancies in transactions, media reports said.
The department has asked the party to show source of Rs 5 crore which was not shown in the income tax returns filed by the party.
A raid was carried out by the department after finding huge withdrawals in the recent past at the Bank of India’s M G Road branch on Friday.
Earlier, the ED had found unaccounted transactions through 25 bank accounts operated by different CPM area committees during investigation into Karuvannur Cooperative Bank scam.
The CPM claimed that the party’s financial transactions were transparent.
