Income Tax Department conducts searches on groups engaged in the business of Digital Marketing & Waste Management

0
869
Income Tax Department conducts searches in Mumbai and other regions
Income Tax Department conducts searches in Mumbai and other regions
0 0
Azadi Ka Amrit Mahoutsav

InterServer Web Hosting and VPS
Read Time:1 Minute, 27 Second

By PIB Delhi

The Income Tax Department initiated search and seizure operations in two groups based in several States on 12.10.2021.

The first group is engaged in digital marketing and campaign management wherein the search operations have been carried out at 7 premises located in Bengaluru, Surat, Chandigarh, and Mohali.

Incriminating evidence found reveals that the group has been engaged in obtaining accommodation entries using an entry operator. The entry operator has admitted to have facilitated transfer of cash and unaccounted income of the group through Hawala operators.

Inflation of expenditure and under-reporting of revenue has also been detected. The group has also been found to be indulging in unaccounted cash payments.  It is also found that personal expenses of the directors have been booked as business expenses in the books of accounts. Luxurious vehicles used by the directors and their family members are found to have been purchased in the names of employees and entry provider.

The second group searched is engaged in Solid Waste Management comprising solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.

During the course of the search, various incriminating documents, loose papers and digital evidences have been seized. Evidence found reveals that this group has indulged in booking of bogus bills for expenses and sub-contracts. A preliminary estimate of such bogus expenses booked is to the tune of Rs.70 crore.

The search action has led to the detection of unaccounted investment in property of about Rs. 7 crore. Apart from this, the search action has resulted in seizure of unaccounted cash of Rs. 1.95 crore and jewellery of Rs. 65 lakh.

Further investigations are in progress in both the groups.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Advertisements

USD





LEAVE A REPLY

Please enter your comment!
Please enter your name here