Ludhiana: RAIDS The latest income tax (I-T) in several places from two leading dried fruit companies in India – one has its main base in Amritsar and Delhi and the others in Jammu – has led to countless income detection from Rs 200 Crore.
The action also resulted in seizure of countless cash 63 lakh rs and jewelry worth Rs 2 Crore.
During search, Sohuth I-T has also recovered some burdensome evidence that points to inflating the purchase to suspend profits.
Raid four intense days, which began on October 28, carried out throughout India in the premise of both companies located in Amritsar City, Jammu, Delhi, Ludhiana, Mumbai and several locations in Haryana and Uttar Pradesh.
Release the statement on Friday about the raid, the Ministry of Finance said, “The income tax department conducted search and seizure operations on October 28 in cases of people involved in the processing and trade of dry fruits.
During surgery, many burdensome documents included evidence Digital was found and seized indicating that the appraisal group had inflated the purchase of dry fruits secretly over the years “.
The statement added, “Evidences who were confiscated also supported the fact that countless cash had been received again by the group director of the payment made for the purchase.
There is also evidence that one of the assessors maintained a parallel set of books and there .
Is a big difference between sales and purchases recorded in both sets of account books “.
“One group also pampered itself in the purchase and sale of diseably disbundable fruits.
Excess stocks to RS tones.
40 Crores have been found.
Analysis of confiscated materials and evidence gathered revealed that one group also runs Benami.
.
in both groups, the claim reduction under Section 80ib of the Law of Income Tax, 1961 has been found to be genuine and is estimated at about Rs.
30 crore.
measures search has resulted in the seizure of unaccounted cash of Rs.
63 lakh and jewelery of Rs.
2 Crore.
Fourteen Bank lockers have been placed under restraint.
Search action has caused income detection that countless exceeds RS.
200 Crore, “the next statement was mentioned.
Both of these groups were involved in dried fruit imports and trade and dealing with various dried fruits including almonds, walnuts, cashew nuts, raisins, pistachios etc.
Both groups, in addition to selling dried fruit to distributors and dealers, also have a large online business equal under their respective brands.