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also been found that the bank accounts of the employees have been used to receive money, which has subsequently been withdrawn in cash.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.
Referring to police action against protesting farmers in Congress-ruled Rajasthan, the BJP leader said, "Congress leaders who are very keen to visit Lakhimpur Kheri have not uttered a single word against police lathicharge on farmers in Hanumangarh, Rajasthan."
Comparisons are on in social media whether this arrest could change the Congress fortunes as after Indira Gandhi's arrest and later in the election in 1980 the Congress returned with a thumping majority.
During the 45-minute long meeting with the Home Minister, Channi also discussed the security situation of the state and demanded that the border must be sealed properly to effectively prevent the smuggling of weapons from Pakistan.
It is the largest agricultural protest to take place in India and others from around the world have also joined in, tens of thousands of farmers have camped for months on major highways to New Delhi to oppose the three laws.
On Thursday night, Shah reached to Nadda's residence and meeting between the two leaders lasted for about an hour. The Shah-Nadda meeting came after a series of events. Earlier, on Wednesday, Amarinder met Shah.
