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.
Punjab is predominantly an agricultural state with majority of population living in rural areas. Forty-five per cent of total diesel consumed in Punjab is used in agriculture, 25 per cent in transportation, 20 per cent in industry and 10 per cent by retail consumer.
Delhi Police on Wednesday busted a smuggling racket of imported cigarettes and recovered 3,650 packets of illegally smuggled cigarettes, valued at approximately Rs 7.3 lakhs. According to the police, a man, identified as Aamir Laeeq, 30, was arrested in this connection.
Security guards in all the banks in J&K are provided with point 12 bore shotguns and not rifles. While bullets are used in rifles, the ammunition of a shotgun is made of cartridges.
The haul is valued at nearly Rs 8 lakh. The smuggler Abdul Baki Malitha (40) and the silver pellets have been handed over to the Customs department at Jalangi, Murshidabad, for further processing.
The sources also said that they have identified around 22 mobile numbers of PFI student wing members who were present in the area before the violence erupted. They said that the probe agencies have been trying to ascertain their activities and they may be questioned by the Crime Branch of the Delhi Police.
The packet had come through the cargo to Sirajudeen on April 17, and on Monday a person named Naukul had come to take it. The officials used a gas cutter to open the meat slicer and recovered 2.26 kg of gold stacked inside the machine.
