Darpan News Desk The Canadian Press, 26 Oct, 2021 11:05 AM
New Delhi, Oct 26 (IANS) The Income Tax Department carried out search and seizure operations in the cases of two groups based in Punjab.
The search action in case of the first group was initiated on October 21. This group is engaged in Cycle business. The department said that based on investigation it found that the group has been involved in suppression of income by showing bogus intra-group transactions within group concerns.
The group was also found to have been involved in receiving a substantial part of sale consideration in cash and thereby suppressing the turnover. The seized documents reveal suppression of turnover of around Rs 90 crore per annum. Incriminating documents related to the undisclosed sale of scrap have also been seized, the department said in a statement.
The search also revealed undisclosed investments by the group members in immovable properties.
The search action has led to detection of unaccounted income of about Rs 150 crore and seizure of unaccounted cash of Rs 2.25 crore and unaccounted gold of Rs 2 crore.
In the second case, the IT launched searches on a group based in Jalandhar that is engaged in providing immigration and study visa related services to students. The search action in this group was initiated on October 18.
The I-T department said that the search action on this group revealed that they used to charge a package, ranging between Rs 10 lakh to Rs 15 lakh per student, depending on the country where the student wished to pursue education. Almost the entire receipts of the group, aggregating to more than Rs 200 crore in the last 5 years are in cash.
It has also been found that the bank accounts of the employees have been used to receive money, which has subsequently been withdrawn in cash. The profit earned from such receipts has never been disclosed in the Income Tax Returns filed. Only the commission received from foreign universities has been shown as receipts in the Income Tax Returns by the members of the group.
The search action has led to detection of unaccounted income of about Rs 40 crore. The search action has also resulted in seizure of unaccounted cash of Rs 20 lakh and seizure of unaccounted jewellery of Rs 33 lakh.
Further investigations are in progress in both the groups.
9 persons, including four farmers, were killed in the violence that had erupted during a farmers' protest in Lakhimpur Kheri. A bench headed by Chief Justice N.V. Ramana and comprising justices Surya Kant and Hima Kohli will hear the matter on Thursday. The matter has been listed as 'violence in Lakhimpur Kheri (UP) leading to loss of life'.
Canadian MP Tim S. Uppal said he was shocked to learn about the brazen attack on protesting farmers. Another Canadian MP Ruby Sahota said she was heartbroken to learn about the violence directed at protesting farmers.
The demand made by citizens primarily mirrored their right to clean air and the right to breathe, underlining the reality that Punjab is home to some of India's most polluted towns, including Mandi Gobindgarh, Amritsar, Jalandhar, Ludhiana, Khanna, and Patiala.
The case was assigned to the division bench of Justices A.G. Masih and Ashok Kumar Verma. Earlier, the case was being heard by the bench of Justices Rajan Gupta and Ajay Tewari but the latter recused himself from hearing the case on September 1.
Furnishing details about the incident, Additional DCP-2 Nishant Gupta told IANS that they had received information about a firing incident in the northeast Delhi area on October 1.
The activists of Punjab Congress will walk towards Lakhimpur Kheri in Uttar Pradesh if Priyanka Gandhi is not released and the Union Minister's son accused of murder not arrested, said state party President Navjot Sidhu on Tuesday.
