Did ED undervalue Hasan Ali's transactions?

Even as the Enforcement Directorate (ED) probes the $8 billion worth transactions allegedly involving suspected money launderer and tax evader Hasan Ali Khan, evidence available with Headlines Today shows that he had transactions of over $25 billion (Rs 112,000 crore) between January 2005 and November 2006. The staggering amount is enough to fund the national drinking water project in all 6 lakh villages in the country for the next 10 years. The shocking revelation came from a pen drive seized from Khan's business associate Kashinath Tapuriah's residence during a raid by the income tax (I-T) department in 2007. Khan's account details, in possession of Headlines Today, show that the balance in his UBS account as of December 2006 was $8 billion. However, on tallying the string of high value debits from the account in the two preceding years, it was found that the account transacted an amount of over $25 billion during the period. Elaborating on Khan's tax liabilities, senior lawyer Mahesh Jethmalani said, "Nobody talks about Ali's $17 billion transactions to the other accounts. It shows that government's own tax assessment is wrong because they levied Rs 50,000 crore tax on Ali according to the finance ministry's statement in Parliament. But that was on the basis of $8 billion. Now with $25 billion, the tax amount will go up three times."