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.
Akal Takht acting Jathedar Giani Harpreet Singh, Takht Kesgarh Sahib Jathedar Giani Raghbir Singh and other high priests conducted a meeting at Akal Takht secretariat on Monday.
According to the official order, the education ministry has "instructed all the states and Union Territories to formulate guidelines to regulate the teaching of subjects and weight of school bags in accordance with the Government of India instructions".
With India and Pakistan agreeing to open the Kartarpur Sahib corridor, the woman said she is hopeful that it will help bring a thaw in ties and the two countries will look into the issue of PoWs to ensure their early return.
ISRO is all set to launch its workhorse rocket PSLV-C43 carrying India's earth observation satellite Hyperspectral Imaging Satellite (HySIS) and 30 co-passenger satellites, including 23 from the US, from Sriharikota on November 29.
