Quick Summary
The Income Tax Department carried out a search and seizure operation on 24.08.2022 on a prominent Kolkata based group, engaged in manufacturing of Power Transmission Distribution (TD) Structure, Steel Structures, Steel ERW Pipes and Polymer products, etc. The search action covered 28 premises spread over West Bengal and Jharkhand. During the course of the search operation, various methods of tax evasion adopted by the group were unearthed. A large number of incriminating evidence in the form
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The Income Tax Department conducted a search and seizure operation on 24th August 2022.
The group is engaged in the manufacturing of Power Transmission & Distribution (T&D) Structures, Steel Structures, Steel ERW Pipes, and Polymer products.
The search action covered 28 premises spread over West Bengal and Jharkhand.
Methods unearthed include booking bogus expenditure, undisclosed cash sales, and the use of shell companies to provide accommodation entries for unaccounted money.
The search action has led to the detection of total unaccounted income of more than Rs. 250 crore.
Yes, evidence suggests the group utilised several shell companies to provide accommodation entries and route unaccounted money back into the business.
CAclubindia
