TaxTMI 
TaxTMI 
Income Tax Department conducts searches on a leading Gutkha distributor in Gujarat
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....ncome Tax Department conducts searches on a leading Gutkha distributor in Gujarat <br>News and Press Release<br>Dated:- 24-11-2021<br><BR>The Income Tax Department carried out search and seizure opera....
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....tions on a leading Gutkha distributor of Gujarat on 16.11.2021. The search action covered more than 15 premises at different locations in Ahmedabad. During the course of the search action, various in....
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....criminating documents and digital evidence were found and seized. The preliminary analysis of these evidences clearly indicate evasion of taxable income by adopting various malpractices such as unacco....
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....unted purchases of materials, under-invoicing of sales, and unaccounted expenditure incurred in cash. Further analysis of seized material reveals that part of these cash sales have not been recorded i....
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....n the books of accounts. The search team has also unearthed evidences of undisclosed investment in immovable properties. The search operation has resulted in the seizure of unaccounted cash of about ....
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....₹ 7.50 crore and unexplained jewellery of about ₹ 4 crore. Prohibitory orders have also been placed on bank lockers. The search action, so far, has led to the detection of unaccounted inc....
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....ome of more than ₹ 100 crore. Out of this, the group has admitted undisclosed income exceeding ₹ 30 crore. Further investigations are under progress. **** RM/KMN<BR> News - Press releas....
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....e - PIB....