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The Income Tax Department carried out search and seizure operations on 05.10.2021 in the case of two groups based in the North-East Region and West Bengal. A total of 15 premises were covered in the search action, which was spread across Kolkata, Guwahati, Rangia, Shillong and Patna. One of the groups is engaged in the business of cement manufacturing. During the search action, it was found that this group generated unaccounted income by indulging in out-of-books sales and booking bogus expen
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FAQ :
The searches were conducted across Kolkata, Guwahati, Rangia, Shillong, and Patna, covering premises in Assam, Meghalaya, and West Bengal.
The first group was engaged in the business of cement manufacturing.
The group allegedly generated unaccounted income through out-of-books sales, booking bogus expenses, and laundering funds through shell companies.
The second group was actively engaged in executing railway contracts in Assam, Mizoram, and other parts of the North East.
Incriminating documents indicated undisclosed investments in land and properties, with sale deeds valued in excess of Rs. 110 crore.
The search and seizure actions resulted in the detection of undisclosed income exceeding Rs. 250 crore.
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