IT raids several embassy group offices across five states
India | June 01, 2022 12:10 ISTIn Bengaluru, the IT raids were underway at Embassy Arcade Apartment in Sadashivnagar, against Narpat Singh -- Director of Embassy group.
In Bengaluru, the IT raids were underway at Embassy Arcade Apartment in Sadashivnagar, against Narpat Singh -- Director of Embassy group.
The group has a pan-India presence having an annual turnover exceeding Rs 6,000 crore. A total of 23 premises were covered in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh, in the search operation.
The ITD swooped on the homes and offices of Rahul Kanal, a Trustee of Shri Saibaba Sansthan Trust, Shirdi, a confidante of Tourism Minister Aditya Thackeray.
A team of tax department officials is undertaking the raids against Yashwant Jadhav, also the chairman of the BMC standing committee.
Why FM Nirmala Sitharaman said, ‘It’s not BJP money’ on Rs 200 cr seized from perfumer Peeyush Jain. Full details of SP MLC and perfume trader Pushpraj Jain’s business empire. For more watch Abki Baar Kiski Sarkar.
Why FM Nirmala Sitharaman said, ‘It’s not BJP money’ on Rs 200 cr seized from perfumer Peeyush Jain. Full details of SP MLC and perfume trader Pushpraj Jain’s business empire. For more watch Aaj Ki Baat with Rajat Sharma on India TV.
After Piyush Jain, IT raids have now been conducted at residences of SP MLC Pushpraj Jain alias Pampi Jain and perfume trader Malik Mian.
The I-T department also seized Rs 5 crore cash and jewellery of a similar value (Rs 5 crore) during the raids on the two groups
According to media reports, to avoid being in the limelight, the businessman used an old scooter back at his native place Kannauj. In Kanpur, he reportedly only had two old cars at his disposal.
After a series of IT raids, perfume businessman Piyush Jain was arrested from Kanpur and will be produced in court today. In the raids conducted by the IT department, a total of 177 crores in cash and properties worth 250 crores have been recovered from his home and known locations.
According to sources, the smartphone companies were allegedly violating rules and norms to evade taxes and were on the radar of several probe agencies, including the I-T Department.
Akhilesh Yadav's allegations came a day after four of his close associates were raided by Income Tax officials in Uttar Pradesh. Yadav said that the raids were an indication that the BJP was going to lose the election.
IT raids were conducted at residences of four SP leaders recently. Talking to the press on the same, Akhilesh Yadav said that BJP is fearful of losing the elections, while alleging that the raids are being conducted to keep SP from winning the polls.
During the search, documentary evidences were found and seized indicating receipt of unaccounted cash as well as utilisation of the same towards purchase of land.
The CBDT said the group engaged in the business of chit fund was running an unauthorised business and all the investments and payouts of more than Rs 400 crore in the last few years were done entirely in cash.
NCP Chief Sharad Pawar condemned the raids and called them 'politically motivated'.
The Income Tax Department has conducted searches on a company engaged in trading of telecom equipment and installation and servicing of these items for various telecom players in India.
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During the Income Tax department searches, that were carried out at over 30 locations in Mumbai and Pune, including the premises of noted film director Anurag Kashyap, actor Taapsee Pannu, filmmaker Vikas Bahl, and executives of Kwann Talent management, evidence of huge suppression of income by the leading Film Production house compared to the actual box office collections has been unearthed.
The Income Tax department raided a number of hawala operators in Delhi and detected suspect transactions worth Rs 300 crore, the CBDT said on Tuesday.
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