I-T dept detects unaccounted transactions exceeding Rs 100 cr across country
Darpan News Desk IANS, 22 Nov, 2022 12:06 PM
New Delhi, Nov 22 (IANS) The Income Tax Department on Tuesday said that it has unearthed unaccounted transactions exceeding Rs 100 crore during searches on a few groups engaged in jewellery and real estate business across the country in connection with alleged tax evasion.
According to an official, on November 17, the searches were carried out in more than 30 locations spread across Patna, Bhagalpur, Dehri-on-Sone, Lucknow and Delhi.
During the searches, a large number of incriminating documents and digital evidence indicating evasion of income tax were found.
In one of the raids, analysis of seized evidence revealed that the group engaged in the business of gold and diamond jewellery, had invested its unaccounted income in cash purchase of jewellery, renovation of shops and immovable properties.
It had unaccounted money of over Rs 12 crore in its books of account, in the garb of advance from customers.
Upon physical verification of stock, during the search action, unaccounted stock of more than Rs 12 crore were found.
In the case of another group engaged in real estate business, evidence of unaccounted cash transactions in purchase of land, construction of buildings and sale of apartments, were found.
Evidence seized in the case of a prominent land broker has further corroborated the above unaccounted transactions. The quantum of such unaccounted cash transactions is more than Rs 80 crore. The unaccounted income so earned by the key persons of the group has been invested in acquisition of many immovable properties, including large parcels of land.
"During the search operations, unaccounted cash and jewellery worth more than Rs 5 crore have been seized. A total of 14 bank lockers have been put under restraint. So far, the search action has led to detection of unaccounted transactions exceeding Rs 100 crore," said the official.
Earlier, Dhesi sent a letter, signed by over 100 British MPs and Lords, to Prime Minister Boris Johnson on the ongoing farmers' protests, asking him to raise this matter with his Indian counterpart Narendra Modi when they next liaise.
The Chief Minister told the media here that for more than a year since the Central government had brought three agriculture laws for the benefit of farmers, especially small and marginal ones, unfortunately, some farmer unions had been protesting on the Delhi borders.
While the Centre's announcement to repeal three farm laws is seen as a political decision with eye on forthcoming assembly polls in five states, the BJP claims that it has nothing to do with elections as the party has won many states after laws were passed by the Parliament.
On January 12 this year, the Supreme Court had stayed the implementation of the three farm laws after scores of farmers from Punjab, Haryana and Uttar Pradesh pitched their tents on various Delhi borders in protest against the three laws.
A nine-member committee of the Samyukt Kisan Morcha (SKM), the consortium of protesting farmers' bodies, will be meeting on Saturday, and it is likely to put forth four main demands. The meeting will also decide whether the SKM will go ahead with the originally announced 'March Towards Delhi' programme on November 26.
Congress legislator and Punjab unit party president Navjot Singh Sidhu on Friday said the minimum support price (MSP) is the bigger issue than farm laws as it is the lifeline of farmers.
