https://www.taxtmi.com/news?id=24558 Search and seizure operations across multiple locations uncovered extensive undisclosed income and concealment mechanisms. One group in cement manufacturing generated unaccounted income through out-of-books sales, bogus expenses and use of paper/shell companies to launder funds, with evidence of bogus loans, fictitious commissions, bogus share premiums, and undeclared offshore accounts and purported tribal creditors. A second group executing railway contracts showed undisclosed investments in land and properties, numerous sale deeds without corroborated source of funds, and documents evidencing significant cash property transactions. Seizures included unaccounted cash and prohibitory orders on several bank lockers; investigations continue. en-us Fri, 08 Oct 2021 15:07:46 +0530 Fri, 08 Oct 2021 15:07:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24558 Search and seizure operations across multiple locations uncovered extensive undisclosed income and concealment mechanisms. One group in cement manufacturing generated unaccounted income through out-of-books sales, bogus expenses and use of paper/shell companies to launder funds, with evidence of bogus loans, fictitious commissions, bogus share premiums, and undeclared offshore accounts and purported tribal creditors. A second group executing railway contracts showed undisclosed investments in land and properties, numerous sale deeds without corroborated source of funds, and documents evidencing significant cash property transactions. Seizures included unaccounted cash and prohibitory orders on several bank lockers; investigations continue. News - Fri, 08 Oct 2021 15:07:46 +0530 https://www.taxtmi.com/news?id=24558