Saturday, Nov 27 2021 | Time 14:06 Hrs(IST)
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Business Economy


Income Tax department searches Nagpur-based public figure, claims Rs 17 crore hidden income

New Delhi, Sep 20 (UNI) In a search and seizure operations carried out on a Nagpur-based public figure with business interests in education and agriculture, the Income Tax (I-T) department has allegedly detected hidden income of Rs 17 crore.
Several bank lockers found during the course of the search operation have been put under prohibitory orders.
"The evidence gathered during the search is being examined and further investigations are in progress," the Tax department said in a statement.
During the course of the search and seizure operation, the department has claimed to have recovered incriminating documents, loose sheets and other digital evidences.
"These evidences clearly indicate the involvement of the group in unaccounted financial transactions made outside the regular books of accounts including inflation of expenses, money laundering, bogus donation receipts, unaccounted cash expenses etc," the department has said.
"Evidence for receipt of bogus donation in the hands of the Trust run by the assessee group through money laundering, using Delhi based companies to the extent of Rs 4 crore has been found," it added.
More than 30 premises were covered in the search and survey operations spread across Nagpur, Mumbai, New Delhi and Kolkata.
UNI NK
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