https://www.taxtmi.com/news?id=24922 Search and seizure operations uncovered systematic tax evasion by corporate groups through unrecorded cash retail sales documented by 'kucha' bills, bogus purchases, book and stock manipulation to shift profits, non declaration of income on conversion of stock to capital and payments to retiring partners, and diversion of unaccounted income into domestic and offshore real estate. Recovered evidence shows promoters controlling undisclosed offshore entities and use of purported and illicit share capital from offshore and shell entities. A separate group was found to have unrecorded cash transactions and no inventory registers; substantial cash and jewellery were seized and bank lockers restrained. en-us Thu, 06 Jan 2022 08:55:01 +0530 Thu, 06 Jan 2022 08:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24922 Search and seizure operations uncovered systematic tax evasion by corporate groups through unrecorded cash retail sales documented by 'kucha' bills, bogus purchases, book and stock manipulation to shift profits, non declaration of income on conversion of stock to capital and payments to retiring partners, and diversion of unaccounted income into domestic and offshore real estate. Recovered evidence shows promoters controlling undisclosed offshore entities and use of purported and illicit share capital from offshore and shell entities. A separate group was found to have unrecorded cash transactions and no inventory registers; substantial cash and jewellery were seized and bank lockers restrained. News - Thu, 06 Jan 2022 08:55:01 +0530 https://www.taxtmi.com/news?id=24922