Income Tax Department conducts searches in Kolkata

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..... Income Tax Department conducts searches in Kolkata
News and Press Release
Dated:- 1-1-2021

The Income Tax Department carried out search and seizure action on two Kolkata based Groups eng .....

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..... aged in manufacturing & trading of Steel, trading of marbles & stones, food grains etc. The search action has resulted in unearthing of incriminating evidences revealing various shell entities being .....

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..... used for raising bogus share capital/unsecured loans, discrepancies in stock and out of the books cash transactions. The Groups have accepted that they used paper/shell companies to route back their o .....

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..... wn unaccounted money. A total concealment of income amounting to ₹ 178 crore has been detected so far including excess stock of ₹ 38 crore. The search action has resulted in seizure of un .....

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..... accounted cash of ₹ 1 crore and jewellery worth ₹ 1.42 crore. Further investigations are in progress.
News - Press release - PIB .....

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