Quick Summary
The Income Tax Department carried out a search and seizure operation on 25.08.2021 on a group based in Maharashtra and Goa. The group is a prominent steel manufacturer and trader of Pune, Nashik, Ahmednagar and Goa. More than 44 premises were covered in the search operation. During the course of the search and seizure operation, many incriminating documents, loose papers and digital evidences were seized. Evidence detected during the search revealed that the group was engaged in fraudulent
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FAQ :
The Income Tax Department carried out the search and seizure operation on 25th August 2021.
A prominent steel manufacturer and trader based in Maharashtra and Goa was searched.
More than 44 premises were covered in the search operation.
The group was found to be booking bogus purchases of scrap and sponge iron using fake invoices and e-way bills to claim GST input credit.
So far, a total of Rs 175.5 crore of unaccounted income has been unearthed, including bogus purchases, unaccounted cash, jewellery, and silver.
Incriminating documents, loose papers, digital evidence, unaccounted cash of Rs 3 crore, jewellery worth Rs 5.20 crore, and 194 Kg of silver articles valued at Rs 1.34 crore were seized.
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