The Revenue Tax Division conducts search in Jharkhand and West Bengal
By PIB Delhi
The Revenue Tax Division has performed search and survey operations on 20 residential and enterprise premises of a significant group working in Jharkhand and West Bengal on 25 September 2020. The group is concerned in numerous commodities buying and selling, Vanasapati ghee manufacturing, actual property and tea plantations. The group has actual property tasks in Kolkata.
Inadequate proof of transactions exterior of standard books of accounts, unaccounted money bills and money advances acquired and curiosity had been discovered to have been paid in money. As well as, it has been discovered that funds have been launched in superior group shell firms as loans to an actual property firm.
Most firms which have relations as administrators, haven’t any actual enterprise and solely a handful of returns are filed. Most returns with ROC haven’t been filed.
One such group firm has had no enterprise since 2014, although it has raised Rs. 7 crores in money. The cash is deposited in financial institution accounts in Kolkata, however money gross sales are proven in books to consumers from Jharkhand.
Throughout the search, the onerous disk, pen drive and hand written diaries had been additionally seized. Some handwritten diaries recommend lending and taking cash out of money and receipt of books as a result of they’ve reserved industrial house for an actual property mission. There was additionally proof of money funds to contractors and fictitious funds to a pretend contractor. The proof of e-book money prices for development has been discovered to have lowered mission prices recorded in books.
In keeping with preliminary estimates, round Rs. 40 crores was found. The true property mission will price round Rs. 80 crore can also be beneath examination. Additional investigation is underway.