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also been found that the bank accounts of the employees have been used to receive money, which has subsequently been withdrawn in cash.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.
Calling the Congress as the only party who protested against these 'black' laws from the very first day, the Chief Minister said his government called an all-party meeting and then held consultations with farm unions.
The highly specialised medical services to be rolled out across the state by end November will prove to be a boon for people, especially the poor for whom expert private sector medical care is out of reach, he said.
The Minister while addressing the inaugural session of 'Connect Karo 2021 - Towards Equitable, Sustainable Indian Cities' event, said that there can be no doubt that India's cities "enabled by citizen-centric infrastructure and transformational technology" will be the key to achieving the nation's development objectives.
Meanwhile, India logged 27,254 new Covid cases in the last 24 hours. The country also reported 219 Covid deaths in the same time span. The country presently has nearly 3.75 lakh active cases.
At a virtual Covid-19 review meeting, the Chief Minister said vaccine effectiveness is evident from the data being analysed. Special efforts were made to reach out to the government employees, and those who continue to avoid getting vaccinated will now be asked to go on leave till they get the first dose.
DGP Dinkar Gupta said with the case load decreasing, people had started being lax about wearing masks, which the Health Department should strictly enforce with the help of the police.
