[ad_1]
New Delhi:
The raids carried out by the Income Tax division in opposition to an Odisha-based group concerned in manufacturing and buying and selling of metal merchandise has led to the detection of about Rs 170 crore black revenue and presence of bogus administrators who’re truly gullible day by day wage earners, the Central Board of Direct Taxes (CBDT) mentioned on Tuesday.
The group which has premises in and round Rourkela was searched on December Three by the division.
“The group entities were booking bogus purchases of around Rs 170 crore for two financial years in the name of 17 bogus entities,” the CBDT mentioned in a press release.
The administrative authority for the I-T division didn’t establish the entity raided, however mentioned all of the 17 entities have “confessed” within the statements recorded through the course of search that they had been unaware of any such enterprise issues of their identify.
“It is also observed that the total amount was withdrawn in cash from the bank accounts of these bogus entities. All the proprietors or directors of the bogus entities are daily wage labourers or from economically weaker sections,” it mentioned.
[ad_2]
Source hyperlink