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.
Now with the scrapping of Article 370 and 35A, which prevented them to settle permanently and own property, will automatically become the residents of this state.
An account of a fortnight-old encounter that brought two siblings face-to-face during an anti-Maoist operation has come to light now. The cop brother and his Maoist sister exchanged fire before the latter escaped into the forests of the Maoist affected Sukma region in Chhatisgarh.
Punjab Chief Minister Amarinder Singh will lead a delegation of the Ravidas community to meet the Prime Minister for the resolution of the crisis triggered by the demolition of their historic temple in Delhi's Tughlakabad area.
Television actress Shweta Tiwari's daughter Palak has responded to reports of "molestation" by her stepfather, Abhinav Kohli. She says Kohli never "physically molested" her or "touched inappropriately".
On actress Sridevi's 56th birth anniversary on August 13, Madame Tussauds Singapore announced that it would launch the late actress's wax figure in September.
