Chennai, April 21: The Income Tax Department has informed the Madras High Court about clear discrepancies in Udhayanidhi Stalin’s election affidavits. This includes details regarding investments, loans, and financial disclosures from the 2021 and 2026 assembly elections. The hearing on this matter has now been postponed for four weeks.
In a counter-affidavit submitted to the court, the department noted that an investment of ₹7.36 crore in Red Giant Movies, disclosed by Stalin in his 2021 affidavit, is missing from his 2026 declaration. Additionally, the latest affidavit mentions an investment of ₹2.63 crore in the same company under his wife’s name, which was not previously disclosed.
The department indicated that these discrepancies, along with other inconsistencies in financial records, make it difficult to reach any conclusive findings at this stage. This affidavit was presented by the Director General of Income Tax (Investigation) for Tamil Nadu and Puducherry.
Questions were also raised regarding loan disclosures. While Stalin’s 2026 affidavit mentions a loan of ₹10 crore, the 2021 filing recorded liabilities of approximately ₹11.06 crore. However, the company’s financial statements suggest a borrowing of around ₹17.69 crore. The department stated that without access to detailed and complete records, accurate matching of these figures is not feasible.
Complicating the matter further, the department found that the income tax returns were filed using the ITR-2 format, which does not require the submission of a balance sheet. As a result, independent verification of investments and liabilities remains limited. The affidavit also highlighted deficiencies in documentation, including the absence of audited financial statements for certain entities.
Additionally, it was noted that Stalin’s wife had not filed income tax returns for the relevant assessment year, further restricting the examination of related financial entries.
The court was hearing a petition filed by Chennai voter R. Kumaravel, who hails from the Chepauk-Thiruvallikeni constituency and has sought a detailed investigation into the alleged discrepancies in Stalin’s asset declarations.
The petition references ‘significant discrepancies’ between the affidavits and corporate records, including missing declared assets and unexplained changes in liabilities.
Earlier, on April 15, the High Court had issued a notice to the Income Tax Department, seeking a response. The hearing on this matter has now been postponed for four weeks.
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My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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