Tag Archives: Search and seizure

IT raids detect well organised slush money racket of persons in business and politics

Newsroom24x7 Network

New Delhi: On the basis of credible information of large scale collection, possession and movement of unaccounted assets, Delhi Directorate of Income Tax (Investigation) initiated search and seizure action on a group in NCR, Bhopal, Indore and Goa early on Sunday morning.

According to Y. D. Sharma, Commissioner of Income Tax (Media & Technical Policy), who is also the official Spokesperson, CBDT, more than 300 IT officials participated in this operation at about 52 locations in 4 States.

In a statement issued by the CBDT Spokesperson, searches in Madhya Pradesh have detected wide spread and well-organized racket of collection of unaccounted cash of about Rs. 281 cr through various persons in different walks of life including business, politics and public service.

A part of the cash was also transferred to the headquarter of a major political party in Delhi, including about Rs 20 cr, which was moved through hawala recently to the headquarter of the political party from the residence of a senior functionary at Tughlak Road, New Delhi.

Meticulous records of collection and disbursement of cash in the form of hand written diaries, computer files and excel sheets found and seized corroborate the above findings.

Unaccounted cash of Rs 14.6 cr has been found so far, besides 252 bottles of Liquor, few arms and hide-skins of tiger.

The searches in Delhi in the group of a close relative of the senior functionary have further led to seizure of incriminating evidence including cash book recording
unaccounted transactions of Rs 230 cr, siphoning off money through bogus billing of more than Rs. 242 cr and evidence of more than 80 companies in Tax havens.

Several unaccounted/Benami properties at posh locations in Delhi have also been detected.

Instances of violations of Model Code of Conduct are being brought to the notice of ECI.

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Income Tax Department raids properties of Kamal Nath’s close aides and nephew

Newsroom24x7 Network

New Delhi/Bhopal: Income Tax department sleuths early this morning launched a massive search and seizure operation covering houses and properties belonging to Madhya Pradesh Chief Minister Kamal Nath’s close aides Praveen Kakkar and RK Miglani and his nephew Ratul Puri at different places across the country.

Till this afternoon, unconfirmed reports said that about Rs 9 crore have been seized in today’s raids.

According to Income Tax department sources, their ongoing search and seizure operation in Delhi, Bhopal, Indore and Goa, is linked to certain alleged illegal transactions. Last week, Ratul Puri had denied allegations of kickbacks received in the Agusta deal.

A team of more than a dozen Income Tax officers landed at former Police officer Praveen Kakkar’s house in Bhopal at about 3 am and another premise linked to a family business at Vijanagar in Indore.

Miglani, who along with Kakkar had been appointed as Officer on Special Duty (OSD) to the Madhya Pradesh Chief Minister, had quit his posts after the announcement of the general election to the Lok Sabha.

Income Tax Department carries out more search actions in the J&K region

Newsroom24x7 Network

New Delhi: Income Tax Department carried out search actions at 5 premises in and around Srinagar on 28 March, 2019.

Two groups that connived with local officials in facilitation of absorption of undisclosed income of undesirable elements in shops, buildings and land in Srinagar were searched.

It has been found in the search that 76 shops built by Srinagar Development Authority for resettlement of vegetable and fruit vendors were sold off to influential and cash rich disrupters at a huge premium.
One of the persons searched by the Department is a self-proclaimed chairman of the Vegetable Vendors Union, Batamaloo. The magnitude and proportion of black money used in these transactions is startling. It has been found that four shops on the first floor of the market have been apparently sold by the self-styled chairman for Rs 1.09 crore to an individual, who paid Rs 9 lakh in cheque and the balance Rs 1 crore in unaccounted cash. He has constructed a three-storeyed budget hotel-cum-shopping complex at the New Fruit Complex, Parimpora, from black money earned by him in transactions of these shops and other real estate.

The second search operation revealed that nearly 86 Kanals of land under unauthorised occupation was sold to locally powerful persons at a high premium. The transactions have been undertaken either completely or largely in undisclosed cash. A number of original ‘ikrarnamas’ have been found and seized, that show possession of land being passed on in exchange of unaccounted receipt of cash. The said tax evader set up a scrap and plastic crushing unit out of the cash generated in this manner. The investment in this unit as well as income earned from it has been totally kept out of the tax net.

In the aggregate, the search actions of 28th March, 2019 have unearthed unaccounted financial transactions of more than Rs 11 crore and undeclared investment in immoveable property of more than Rs 19 crore in and around Srinagar.

None of the persons covered in the search actions has filed an income tax return. Criminal prosecution for wilful attempt to evade tax as well as deliberate non-filing of tax returns would be filed against the tax evaders.

Huge cash in new currency and bullion seized from hawala operator’s residence

Newsroom24x7 Staff

Bengaluru: During a  search and seizure operation,  28 kg of bullion, ₹5.7 Cr of new currency notes and ₹ 90 lakhs in old ₹100  and 20 notes was seized from a secret locker in the bathroom of a hawala operator’s residence  at Chalakkare, a small town in Chitradurga District.

Chalakkare, with a population of 50.000, is about40 kms from the district headquarters.

The person, whose house was raided was involved in converting old notes and was accumulating bullion using old currency. This raid on his house was conducted on the basis of intelligence inputs.