I-T dept detects tax evasion worth crores after raids on Maharashtra groups
India | Dec 30, 2021, 01:25 PM ISTThe I-T department also seized Rs 5 crore cash and jewellery of a similar value (Rs 5 crore) during the raids on the two groups
The I-T department also seized Rs 5 crore cash and jewellery of a similar value (Rs 5 crore) during the raids on the two groups
According to media reports, to avoid being in the limelight, the businessman used an old scooter back at his native place Kannauj. In Kanpur, he reportedly only had two old cars at his disposal.
According to sources, the smartphone companies were allegedly violating rules and norms to evade taxes and were on the radar of several probe agencies, including the I-T Department.
Akhilesh Yadav's allegations came a day after four of his close associates were raided by Income Tax officials in Uttar Pradesh. Yadav said that the raids were an indication that the BJP was going to lose the election.
During the search, documentary evidences were found and seized indicating receipt of unaccounted cash as well as utilisation of the same towards purchase of land.
The CBDT said the group engaged in the business of chit fund was running an unauthorised business and all the investments and payouts of more than Rs 400 crore in the last few years were done entirely in cash.
NCP Chief Sharad Pawar condemned the raids and called them 'politically motivated'.
The Income Tax Department has conducted searches on a company engaged in trading of telecom equipment and installation and servicing of these items for various telecom players in India.
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During the Income Tax department searches, that were carried out at over 30 locations in Mumbai and Pune, including the premises of noted film director Anurag Kashyap, actor Taapsee Pannu, filmmaker Vikas Bahl, and executives of Kwann Talent management, evidence of huge suppression of income by the leading Film Production house compared to the actual box office collections has been unearthed.
The Income Tax department raided a number of hawala operators in Delhi and detected suspect transactions worth Rs 300 crore, the CBDT said on Tuesday.
At least Rs 62 crore in cash were seized by the Income Tax Department as as part of its multi-city tax evasion operation against hawala or entry operators and individuals who prepare fake bills in Delhi.
The Income Tax Department has recovered cash and jewellery worth about Rs 5.26 crore after it carried out multi-city raids against hawala operators and individuals who prepare fake bills, the CBDT said on Tuesday.
Income-Tax department conducted raids on premises of few Chinese individuals and their India associates for running a money laundering racket worth Rs1,000 crore, the Central Board of Direct Taxes said on Tuesday.
Tax sleuths, officials said, raided premises of Amrapali Jewels, owned by Rajasthan state Congress vice president Rajiv Arora, and Om Metals Infraprojects Limited, whose promoter is believed to be close to Congress leaders in the state.
The Income-Tax department on Saturday denied harassing Karnataka Congress leader G. Parameshwara's aide N.S. Ramesh who committed suicide earlier in the day citing alleged harassment in connection with tax raids on his boss since October 10.
Ahmed Patel said the use of Income Tax department to "target" BJP's political opponents ahead of Lok Sabha polls shows the "desperation" in the ruling party.
Revenue Secretary A B Pandey and CBDT Chairman P C Mody have been called to explain the raids amid allegations by the Congress that the ruling BJP was using enforcement agencies to target it during the poll season.
It said the sleuths have recovered Rs 14.6 crore of "unaccounted" cash and seized diaries and computer files of suspect payments made between Madhya Pradesh and Delhi.
A team of nearly 200 officials from I-T department and state police swooped down on the premises at around 3 am and recovered undisclosed cash amounting to Rs 10-14 crore, they said.
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