Rs 1.82cr cash, jewellery seized from catering, pandal service groups in New Delhi

May 09, 2018, 07:17 IST | ANI

Sources told ANI that raids were conducted at 43 locations of three groups engaged in catering and marquee or pandal services, wherein more than 15 lockers were under prohibitory orders, and total quantum of undisclosed income exceeding Rs.100 crore

Representational Image
Representational Image

The Income Tax (IT) department on Tuesday seized approximately Rs.1.82 crore in cash and jewellery worth Rs 2.49 crore during raids conducted at multiple locations of companies of the hospitality sector.

Sources told ANI that raids were conducted at 43 locations of three groups engaged in catering and marquee or pandal services, wherein more than 15 lockers were under prohibitory orders, and total quantum of undisclosed income exceeding Rs.100 crore.

On May 3, the I-T department's Delhi Investigation Directorate had initiated searches and surveys in cases of three major groups in the aforementioned category under Section 132 and 133A of the Income-Tax Act, 1961. The raids revealed that the searches persons have been evading huge amounts of taxes over the years mainly by underreporting the sales/service charges received.

As per the source, the modus operandi included not reporting most of the cash dealings, with 100 percent extent of evasion in some cases. It was also stated that some of the entities involved had claimed bogus expenses in the form of purchases shown from some shell entities.

The search teams also detected a plethora of documents showing undisclosed cash receipts and mobile messages showing particulars of such transactions, all of which were seized by the I-T department officials for interrogation. Further investigation into the matter is underway.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

DISCLAIMER: mid-day and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Gold jewellery worth Rs 10 crore seized in Coimbatore

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK