Quick Summary
Income Tax Department conducted search and seizure operations on a business group operating largely in North Bengal region of the State of West Bengal. The business group is controlled by a person with an active political background. Search was also conducted on his close business associate. The group is engaged in a variety of businesses ranging from production and sale of edible Rice Bran Oil, mustard oil, De-Oiled Rice Bran (DORB), different types of chemicals and real estate, etc. A total of
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FAQ :
The Income Tax Department raided a business group operating primarily in the North Bengal region, involved in edible oils, chemicals, and real estate.
The raids covered 23 premises in Uttar Dinajpur, Dakshin Dinajpur, Malda, Kolkata, Siliguri in West Bengal, and Guwahati in Assam.
The group is involved in the production and sale of edible Rice Bran Oil, mustard oil, De-Oiled Rice Bran (DORB), various chemicals, and real estate.
The search revealed suppression of yield, unaccounted cash sales of edible oils and DORB, unrecorded cash transactions, parallel cash books, and bogus expense claims.
Preliminary investigations indicate unaccounted income of over Rs. 40 crore. Additionally, documents suggest unaccounted cash payments of approximately Rs. 17 crore for land acquisition and unaccounted cash receipts of about Rs. 100 crore.
The operation resulted in the seizure of unaccounted cash amounting to Rs. 1.73 crore and unaccounted jewellery worth Rs. 1 crore.
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