The Income Tax Department carried out search and seizure action on a number of hawala operators engaged in the activity of routing and handling unaccounted cash in Delhi region.
The search action has resulted in unearthing of incriminating evidences revealing various shell entities being used for raising bogus purchase/sale bills, and routing of unaccounted funds through several layers of bank accounts. Such shell entities are closed after two months, and new ones are formed.
Further, incriminating documents evidencing suppression of sales and bogus purchases in excess of Rs. 300 crore is detected.
The search action has resulted in seizure of unaccounted cash of Rs. 14 crore and Bullion worth Rs. 2 crore.
Further investigations are in progress.
Also See:
For generations, Mothers Day has been synonymous with a predictable (yet well-meaning) routine: flowers, a…
हरियाणा के मुख्यमंत्री श्री नायब सिंह और प्रदेश के विभिन्न गांव के सरपंचों के बीच…
Dolphin (PG) College, Chandigarh, has been awarded the prestigious "Leading Paramedical Institute of North India…
In today's world, the influencers have created a lot of buzz. They have made a…
Cricket icon and brand ambassador MS Dhoni gets a special salute from Lays with limited-edition…
Jungle Camps India, a distinguished collection of award-winning wildlife and conservation-focused lodges spread across central…