https://www.taxtmi.com/news?id=25924 Search and seizure action targeted business groups in coal trading, contracting and iron ore extraction, yielding documentary and digital evidence of tax evasion methods: inflated expenses via non-genuine year-end entries, cash payments/receipts, suppression of production, unexplained immovable-property investments, unaccounted stock, and layering of unaccounted funds through shell companies; professionals admitted lack of due diligence. Operational measures included seizure of undisclosed cash, restraint of bank lockers and identification of substantial unaccounted transactions and investments, with investigations continuing to quantify and pursue further compliance action. en-us Tue, 08 Nov 2022 15:12:21 +0530 Tue, 08 Nov 2022 15:12:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=25924 Search and seizure action targeted business groups in coal trading, contracting and iron ore extraction, yielding documentary and digital evidence of tax evasion methods: inflated expenses via non-genuine year-end entries, cash payments/receipts, suppression of production, unexplained immovable-property investments, unaccounted stock, and layering of unaccounted funds through shell companies; professionals admitted lack of due diligence. Operational measures included seizure of undisclosed cash, restraint of bank lockers and identification of substantial unaccounted transactions and investments, with investigations continuing to quantify and pursue further compliance action. News - Tue, 08 Nov 2022 15:12:21 +0530 https://www.taxtmi.com/news?id=25924