Quick Summary
The Income Tax Department carried out search and seizure operations on an importer and trader of laptops, mobile phones and peripheral parts. The search operationscommenced on 10.10.2021 and were spread across the National Capital Region, Haryana and West Bengal. During the course of the search, several incriminating documents, diaries and digital evidences have been found which reveal that the group is entrenched into large scale under-invoicing and wrongful declaration of goods imported by
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FAQ :
The scheme primarily involved the import of laptops, mobile phones, and peripheral parts.
The search operations were spread across the National Capital Region (NCR), Haryana, and West Bengal.
The importer used under-invoicing and wrongful declaration of the description of imported goods, often using shell entities.
While declared imports over the past 3 years were around Rs 20 crore, the estimated actual value could exceed Rs 2000 crore due to massive under-valuation.
Payments to foreign consigners were reportedly made through hawala channels.
Unaccounted cash amounting to Rs 2.75 crore was seized during the search operations.
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