Income Tax Department conducts searches in Kolkata

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....ncome Tax Department conducts searches in Kolkata <br>News and Press Release<br>Dated:- 1-1-2021<br><BR>The Income Tax Department carried out search and seizure action on two Kolkata based Groups enga....

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....ged in manufacturing & trading of Steel, trading of marbles & stones, food grains etc. The search action has resulted in unearthing of incriminating evidences revealing various shell entities being u....

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....sed for raising bogus share capital/unsecured loans, discrepancies in stock and out of the books cash transactions. The Groups have accepted that they used paper/shell companies to route back their ow....

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....n unaccounted money. A total concealment of income amounting to &#8377; 178 crore has been detected so far including excess stock of &#8377; 38 crore. The search action has resulted in seizure of una....

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....ccounted cash of &#8377; 1 crore and jewellery worth &#8377; 1.42 crore. Further investigations are in progress.<BR> News - Press release - PIB....