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TMI BlogIncome Tax Department conducts searches in KolkataX X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Department conducts searches in Kolkata - News and Press Release Dated:- 1-2-2021 - News - The Income Tax Department carried out search and seizure action on 29.01.2021 on the group based ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Kolkata, engaged in the business of manufacturing of iron steel and tea.The cases were developed based on the available data in the departmental database, analysis of their financial statements, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on market intelligence and field enquiries. Search and seizure action was carried out at more than 25 premises of Kolkata, Jamshedpur, Bhubaneswar, Hyderabad, Mumbai and other places. The search a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction has resulted in unearthing of incriminating evidences revealing various shell entities being used for raising bogus share capital/unsecured loans. Evidence of out of the books cash transactions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has also been found. During the course of search proceedings, as a result of enquiries conducted, it is established that the persons of the group have used paper/shell companies to route back their ow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n unaccounted money. A total concealment of income amounting to ₹ 309 crore has been detected so far. The assessees have made an admission of undisclosed income amounting to ₹ 175 crore. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Further investigations are in progress. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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