Income Tax Department conducts searches in Visakhapatnam

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....ncome Tax Department conducts searches in Visakhapatnam <br>News and Press Release<br>Dated:- 27-8-2021<br><BR>The Income Tax Department carried out search and seizure operation on 25.08.2021 on a gro....

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....up based in Visakhapatnam at 17 different premises across Andhra Pradesh, Chhattisgarh, Nagpur and Kolkata. The group entities are engaged in extraction of vegetable oils, mining of manganese ore, and....

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.... manufacturing of ferro alloys. During the course of the search operation, hand written diaries/documents, loose sheets depicting undisclosed cash transactions were seized. The group is inflating exp....

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....enditure, indulging in cash sales of oil and under invoicing of slag. Transactions in the form of suppression of sales and inflation of expenditure were unearthed. Unaccounted cash of &#8377; 3.0 cro....

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....re has been seized so far. In total, the searches have resulted in detecting incriminating evidence relating to undisclosed financial transactions of about &#8377; 40 crore. Further investigations ar....

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....e in progress.<BR> News - Press release - PIB....