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Income Tax Department carried out search and survey action on 29.01.2021 in the cases of three leading businesses of Assam. The groups are engaged in construction, contracting and business of tea garden. The search and survey actions were carried out at 20 locations in Guwahati, Delhi, Gurugram, Kolkata, Siliguri Alipurduar, Tezpur and Nalbari (Assam). The main allegations against the three groups were that they had been inflating expenses and had taken accommodation entries in the form of no
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FAQ :
The IT Department searched three leading businesses in Assam involved in construction, contracting, and the tea garden business.
The actions were carried out at 20 locations, including Guwahati, Delhi, Gurugram, Kolkata, Siliguri, Alipurduar, Tezpur, and Nalbari.
The main allegations were inflating expenses, taking accommodation entries through non-genuine unsecured loans and security premiums, and suppressing net profits.
Evidence found included handwritten notes of unexplained expenses (approx. Rs 87 crore), shell company entries (approx. Rs 100 crore), discrepancies in cash balance (Rs 4.20 crore), and financial statements not matching regular books.
The total evasion of income in these cases is estimated to exceed Rs 200 crore.
Cash amounting to Rs 42 lakh was seized, and 9 bank lockers were found but are yet to be operated.
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