Investigations and search operations were conducted on January 29 at 20 locations in Kolkata, Siliguri and Alipurduar in Guwahati, Tezpur, Nalbari (Assam), Delhi, Gurugram and Pachim Bengal. A CBDT spokesperson said in a statement, “The total tax evasion in these cases is Rs 200 crore. 9 bank lockers have been found, we have to see them now.
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Rs 42 lakh cash also recovered
During the action, Rs 42 lakh cash was also recovered. According to the department, all three were showing exaggerated expenses. These units showed increased expenditure and reduced their profit for many years and then applied it in the same business as share premium, share capital and unsecured debt.
Tax authorities have recovered some handwritten papers, which shows that Rs 87 crore has been spent, but where these expenses were incurred, information was not given.
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According to the Income Tax Department, the financial details show a profit of Rs 32 crore with 12 crore cash. But it does not match with regular ledger accounts. Digital backup servers, computers and phones of the units have been taken for further investigation. This will know the actual situation.