Gujarat News: The Income Tax department has detected unreported transactions worth over Rs 300 crore after raiding a business group in Gujarat. This was announced by the Central Agency for Direct Taxes (CBDT) on Tuesday. The department had started the search on August 9. During this, 36 premises of the group spread across Rajkot, Morbi, Ahmedabad, Raipur, Guwahati, Gurugram and Kolkata were searched. The CBDT said in a statement that the preliminary analysis of the seized documents and digital data showed that the group committed “large-scale tax evasion” in several ways.
Cash loans of so many crores also included
According to the statement, “the group has also been found to be involved in depositing undisclosed money in the form of fraudulent unsecured loans from related parties and share capital of shell companies based in Kolkata.” Unregistered transactions worth over Rs 300 crore have been detected. This also includes cash loans of more than DKK 100 million. Let us tell you that CBDT is actually the administrative authority of Income Tax Department.
Recently, the group of Rajasthan was raided by IT
The Income Tax department had recently revealed ‘sorted’ income of over Rs 150 crore following a raid on a Jaipur-based group. During this, more than three dozen premises of the business group were searched in Jaipur and Kota districts of Rajasthan. . The CBDT did not name the group in its statement. The board had said that the department has so far attached “undeclared assets” worth over Rs 11 crore. Tax authorities found the group allegedly avoided large amounts of tax by taking cash from the sale of homes and land, the statement said.
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