Ludhiana: Recent Income Tax Department Raids in various places two leading dried fruit companies in this country engaged in the processing business and trade of dry fruits causing revenue detection that is not achieved by more than Rs 200 Crore.
While one company has its main base in Amritsar and Delhi, the other is in Jammu.
During search operations on October 28, the department has found and seized many burdensome documents, including digital evidence, which shows that the appraisal group has inflated the purchase of dried fruits for years.
The action also resulted in seizure of countless cash 63 lakh rs and jewelry worth Rs 2 Crore.
Raids concluded on October 31 and was carried out throughout India – in Amritsar, Jammu, Delhi, Ludhiana, Mumbai and several locations in Haryana and Uttar Pradesh.
Evidences who were confiscated also supported the fact that countless cash was received by the group director against the payment made for the purchase.
According to a statement released by the Ministry of Finance on Friday, there is also evidence that one of the assessors retains a book of accounts and there is a big difference between sales and purchases recorded in both sets.
This then stated: “One group also pampered the purchase and sale of uncountable dried fruits.
Excess stocks to RS Tone 40 Crore have been found.
Analysis of confiscated materials and evidence collected revealed that one group also runs Benami …
Being a concern Crore.
Fourteen Bank Lockers have been placed under restraint.
Search action has led to countless income detection exceeds Rs 200 Crore.
“Both of these groups are involved in dried fruit imports and dealing with various kinds of dry fruits such as almonds, walnuts , cashew nuts, raisins and pistachios, among others.
In addition to selling dried fruits to distributors and dealers, they also do the same big online business under their respective brand names.