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also been found that the bank accounts of the employees have been used to receive money, which has subsequently been withdrawn in cash.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.
Priyanka's remarks came after farmers on Tuesday evening vacated the railway tracks and highways in Punjab after the Amarinder Singh government accepted the demands of the sugarcane farmers.
The 'rebel' legislators reached Dehradun in the morning to apprise Rawat about the mood of the public against the Amarinder Singh-led government in the state. They, among 20-odd party legislators, have been demanding replacement of Amarinder Singh as he failed to fulfill the 2017 poll promises.
Rao also slammed Chief Minister Pramod Sawant for raking up 10-year-old allegations related to the mining scam in an attempt to put Congress leaders in the dock in pollbound Goa.
According to the customs department, one male passenger aged 27 years, flew in from Dubai by Emirates flight EK-544 was intercepted at exit gate and his baggage which were found to be unusually heavy were subjected for detailed examination.
According to the sources, the panel members were reported about the delay and red tapism in the bureaucracy which has been hampering the pace of development in Jammu and Kashmir and Ladakh and many new schemes announced by the Union government were getting affected.
Its convenor and founder K.C. Singh, a former envoy to the United Arab Emirates, and Iran, said the manch wants to focus on challenges facing Punjab today and take the people's views.
