Income Tax Department conducts searches on two business groups in Tamil Nadu

Income Tax Department conducts searches on two business groups in Tamil Nadu https://www.taxtmi.com/news?id=25584 Search and seizure operations on two business groups uncovered documentary and digital evidence indicating systematic suppression of income via bogus purchases, fabricated entities, routing of payments back in cash, undisclosed joint venture profit sharing, secret record hideouts, and insertion of spurious capital and loan liabilities; preliminary undisclosed income exceeds the reported threshold and investigations continue. en-us Tue, 12 Jul 2022 18:36:18 +0530 Tue, 12 Jul 2022 18:36:18 +0530 TaxTMI RSS Generator Income Tax Department conducts searches on two business groups in Tamil Nadu https://www.taxtmi.com/news?id=25584 Search and seizure operations on two business groups uncovered documentary and digital evidence indicating systematic suppression of income via bogus purchases, fabricated entities, routing of payments back in cash, undisclosed joint venture profit sharing, secret record hideouts, and insertion of spurious capital and loan liabilities; preliminary undisclosed income exceeds the reported threshold and investigations continue. News - Tue, 12 Jul 2022 18:36:18 +0530 https://www.taxtmi.com/news?id=25584