https://www.taxtmi.com/news?id=26442 Search and seizure operations found Cooperative Banks and societies routing funds to enable tax evasion by discounting bearer cheques in fictitious names without KYC, crediting proceeds to cooperative society accounts whose cash withdrawals were returned to business entities to mask payment sources and permit bogus business expenditure; investigations also uncovered layering of unaccounted money through bank-related real estate and business dealings, misuse of funds for management-owned firms, unvouched cash-backed loans, and seizure of unaccounted cash and gold. en-us Tue, 11 Apr 2023 18:46:27 +0530 Tue, 11 Apr 2023 18:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26442 Search and seizure operations found Cooperative Banks and societies routing funds to enable tax evasion by discounting bearer cheques in fictitious names without KYC, crediting proceeds to cooperative society accounts whose cash withdrawals were returned to business entities to mask payment sources and permit bogus business expenditure; investigations also uncovered layering of unaccounted money through bank-related real estate and business dealings, misuse of funds for management-owned firms, unvouched cash-backed loans, and seizure of unaccounted cash and gold. News - Tue, 11 Apr 2023 18:46:27 +0530 https://www.taxtmi.com/news?id=26442