Quick Summary
The Income Tax Department carried out search and seizure operation on 16.12.2021 on two prominent Asansol based groups, engaged in business of iron and steel products, infrastructure, cement, poly fabs, agro-tech food processing, etc. The search action covered more than 30 premises spread over West Bengal. A large number of incriminating evidences in the form of documents and digital data stored in SD cards, WhatsApp chats, etc. have been found and seized. The search team has detected that S
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FAQ :
The Income Tax Department found evidence of unaccounted income worth over Rs 125 crore, with Rs 66 crore specifically identified on an SD card from unaccounted cash sales.
Two prominent Asansol-based groups engaged in iron and steel products, infrastructure, cement, poly fabs, agro-tech, and food processing were searched.
The unaccounted income was generated through methods such as unaccounted cash sales, claiming unsubstantiated purchases, and routing unaccounted money through paper companies via share capital or unsecured loans.
Incriminating digital evidence including documents, data stored in SD cards, and WhatsApp chats were seized.
The total unaccounted income detected so far exceeds Rs 125 crore, including seized cash and jewellery worth over Rs 2 crore.
The SD cards contained details of parallel unaccounted sales, actual production data, parallel accounting files, and cash payment details, indicating a significant amount of hidden income.
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