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also been found that the bank accounts of the employees have been used to receive money, which has subsequently been withdrawn in cash.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.
The victim, who was identified as Sandeep Bhati, was in his Hyundai Verna along with three friends when the incident took place around 5 a.m., according to the police. He is learnt to be critical and undergoing treatment in a private hospital in Noida.
Sportspersons performing well in the Olympics, Asian Games and Commonwealth Games, as well as World Cup tournaments, will be recruited in various departments under the sports quota, following amendment to Rule 3 of the Punjab Recruitment of Sportsmen Rules, 1988, through insertion of Rule 3-A.
After the meeting of Rahul Gandhi with Chhattisgarh Chief Minister Bhupesh Baghel and T.S. Singh Deo, it is widely expected that the state could see a minor portfolio reshuffle. Singh Deo may be given more importance in the cabinet and it's likely he may be allotted a portfolio soon. Currently he holds the health portfolio.
Chief Minister Amarinder Singh said he will invite Vice President Venkaiah Naidu, Punjab Governor V.P. Badnore and former Prime Minister Manmohan Singh as guests at the special session.
Chidambaram was addressing a press conference at the fag-end of his two-day visit to the state in the capacity as the All India Congress Committee's senior observer in charge of Goa ahead of the 2022 state assembly polls.
Punjab annually generates 20 million tonnes of paddy straw and this is normally set on fire to quickly clear the fields for the next crop, resulting in choking of the National Capital Region (NCR) in October and November.
