https://www.taxtmi.com/news?id=23415 Search and survey operations targeted a coal-trading group for alleged tax-evasion using accommodation entries routed through Kolkata-based shell companies recorded as non-genuine share capital and unsecured loans, coupled with suppression of true net profits. Handwritten diaries and out-of-books records revealed extensive undocumented cash transactions and cash loans not reflected in regular books; a shell entity without statutory records was found, stock discrepancies and cash investments during demonetization lacked explanation, and significant unexplained cash was seized pending further investigation. en-us Tue, 08 Dec 2020 09:25:57 +0530 Tue, 08 Dec 2020 09:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23415 Search and survey operations targeted a coal-trading group for alleged tax-evasion using accommodation entries routed through Kolkata-based shell companies recorded as non-genuine share capital and unsecured loans, coupled with suppression of true net profits. Handwritten diaries and out-of-books records revealed extensive undocumented cash transactions and cash loans not reflected in regular books; a shell entity without statutory records was found, stock discrepancies and cash investments during demonetization lacked explanation, and significant unexplained cash was seized pending further investigation. News - Tue, 08 Dec 2020 09:25:57 +0530 https://www.taxtmi.com/news?id=23415