Home Income tax Individual Income Tax IT Department conducts Search Operations at 25 locations in Chhattisgarh; Seized Unaccounted Cash and Jewellery worth Rs. 2.50 crore

IT Department conducts Search Operations at 25 locations in Chhattisgarh; Seized Unaccounted Cash and Jewellery worth Rs. 2.50 crore

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IT Department conducts Search Operations at 25 locations in Chhattisgarh; Seized Unaccounted Cash and Jewellery worth Rs. 2.50 crore

IT Division conducts Search Operations at 25 places in Chhattisgarh; Seized Unaccounted Money and Jewelry value Rs. 2.50 crore

The Earnings Tax Division initiated search and seizure operations within the case of a Politically Uncovered Individual (PEP), his shut associates and few Authorities officers on 31/01/2024.

One of many PEP’s shut associates works in the true property enterprise. Greater than 25 places had been searched within the districts of Raipur, Surguja, Sitapur, and Raigarh in Chhattisgarh.

Many incriminating paperwork, free sheets, and digital proof have been found and seized throughout the search operation. This proof expose the tax evasion and different unlawful actions that these people have interaction in. Preliminary evaluation means that these individuals have obtained ill-gotten cash in lieu of a grant of undue favours to totally different individuals in Authorities-related works.

In the course of the search, incriminating paperwork had been discovered that reveal details about illicit funds totalling about Rs. 13 crores that the aforementioned PEP obtained in money via his shut connections. Moreover, the proof that was confiscated factors to the PEP associates because the supply of this illicit cash’s actual property investments.

Equally, proof of on-money funds totalling round Rs.3 crores for the acquisition of actual property in addition to proof of unreported money expenditures over Rs. 8 crores made by PEP associates in the true property trade have additionally been found.

The authenticity of those proofs has additionally been supported by admissions of the aforementioned malpractices made by shut PEP associates and employees members.

Moreover, information pertaining to the illegal seizure of land by the PEP’s shut allies have been found to be incriminating. Of their assertion(s), the farmers and the impacted people whose properties had been transferred on this manner have additionally acknowledged that the PEP exerted undue affect over the completion of the aforementioned land offers. Equally, his colleagues used PEP’s extreme affect to safe approval for the acquisition of “Punarwas Patta.”

Points associated to mismatch in turnover vis-à-vis financial institution credit have additionally been detected from the manufacturing facility premises owned by the partner of the PEP, who’s working a producing concern of Hume Pipes.

The search operation has resulted within the seizure of unaccounted money and jewelry exceeding Rs. 2.50 crore.

Additional investigations are in progress.

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