Quick Summary
The Income Tax Department carried out search and seizure operation on 18.12.2021 on various persons and their business entities, engaged in the business of civil construction and real estate and running educational institutes in UP and Karnataka. A Kolkata based entry operator has also been covered in the search operation. The search action covered more than 30 premises spread over various locations including Lucknow, Mainpuri, Mau, Kolkata, Bengaluru and NCR. Large number of incriminating ev
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FAQ :
The search and seizure operations were conducted on 18.12.2021.
The search operations covered premises in Uttar Pradesh and Karnataka.
The targeted businesses were involved in civil construction, real estate, and running educational institutes. A Kolkata-based entry operator was also covered.
Incriminating evidence, including hard copy documents and digital data, was found and seized. This included blank bill books, stamps, signed cheque books of bogus suppliers, and digital data evidencing hawala transactions.
Methods identified include claiming bogus expenditure, routing unexplained income through shell companies, and providing accommodation entries for bogus share capital and unsecured loans.
Yes, a Bengaluru-based Trust and its related entities were investigated for allegedly transferring trust funds for non-trust purposes and collecting cash for the personal benefit of trustees.
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