Jump to navigation
The Income Tax Department initiated a search and seizure operation at seven premises located in Bengaluru, Surat, Chandigarh and Mohali on October 12. After conducting the searches, I-T officials allegedly detected irregularities in connection with two groups involved in the business of digital marketing and waste management.
The I-T department said they found evidence that the group was obtaining accommodation entries using an entry operator.
“The entry operator has admitted to having facilitated the transfer of cash and unaccounted income of the group through hawala operators,” said the officials in a statement.
The officials also claimed to have detected inflation of expenditure and under-reporting of revenue and indulgence in unaccounted cash payments.
“It was also found that personal expenses of the directors were booked as business expenses in the books of accounts. Luxurious vehicles used by the directors and their family members are found to have been purchased in the names of employees and entry providers,” read the statement.
The Income Tax Department has not named the group. However, Naresh Arora, co-founder of DesignBoxed, said, “I want to place on record that the Income Tax raids on DesignBoxed and me and our associates found absolutely nothing — no unaccounted valuables of any kind. The raids were so obviously political.”
“They targeted me and my colleagues only because we have been working for the Opposition and mainly the Congress. Apart from trying to find anything remotely incriminatory against top Congress leaders, the raids were intended to intimidate a self-made professional and political campaign management firm so that we don’t work for India’s main opposition party,” Naresh Arora said in a statement.
DesignBoxed reportedly provides its services to Congress leader DK Shivakumar.
In connection with the group involved in solid waste management, the I-T officials claimed to have seized incriminating documents, loose papers and digital evidence. This group works in the field of solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.
The officials also accused this group of being involved in the booking of bogus bills for expenses and sub-contracts.
“A preliminary estimate of such bogus expenses booked is to the tune of Rs 70 crore. The search action has led to the detection of unaccounted investment in property of about Rs 7 crore. Besides this, unaccounted cash of Rs 1.95 crore and jewellery of Rs. 65 lakh were also seized,” read the statement.
Click here for IndiaToday.in’s complete coverage of the coronavirus pandemic.
Dictatorship in India now: Rahul Gandhi on not being allowed to visit Lakhimpur
Jio network down: Jio says glitches were reported and fixed, gives free 2-day unlimited data to affected users
Explained: UAE’s plan to explore Venus, land a probe on asteroid 560 million km away
Aishwarya Rai Bachchan steals the show in black ensemble in Dubai
Not involved in any money laundering activity: Nora Fatehi
1 dead, over 12 injured as speeding car rams into devotees in Chhattisgarh’s Jashpur
PM Modi launches seven defence companies on Vijayadashami
Viral Video: Little Girl Surprised After Seeing Her Pilot Dad On Same Flight
Covid-19: Himachal Pradesh’s Kinnaur becomes India’s first fully vaccinated district
So Sorry: ‘Corona Par Vijay’
Fact Check video: This is not world’s first train
Kerala govt takes over Mattannur Temple amid protest
Copyright © 2021 Living Media India Limited. For reprint rights: Syndications Today