IT dept conducts searches in West Bengal, Assam
May 16, 2023
New Delhi [India], May 16 : The Income Tax Department conducted search and seizure operations on a business group operating largely in the North Bengal region of West Bengal.
The business group is controlled by a person with an active political background, an official release by the Union Ministry of Finance said on Tuesday without naming anyone.
"Search was also conducted on his close business associate. The group is engaged in a variety of businesses ranging from production and sale of edible Rice Bran Oil, mustard oil, De-Oiled Rice Bran (DORB), different types of chemicals and real estate, etc," the release said.
A total of 23 premises spread over Uttar Dinajpur, Dakshin Dinajpur, Malda, Kolkata, Siliguri in West Bengal and Guwahati in Assam and surrounding areas were covered.
The searches revealed that the group was "suppressing its yield and making unaccounted cash sales" of edible Oils and de-oiled rice bran.
Several instances of cash transactions not recorded in regular books of account have been detected during the search operation. Handwritten notes, documents and digital evidences containing extracts of cash transactions have also been seized. Parallel cash books and bogus claims of expenses have also been found.
Preliminary investigation has revealed unaccounted income of more than Rs 40 crore, the release added.
"Further, in a search operation conducted on the close business associate of the main business group, who is a leading exporter of agro products in Malda district of North Bengal, incriminating documents against cash payments in land acquisition to the tune of Rs. 17 crore (approx.) have been found. Details pertaining to unaccounted cash receipts of about Rs. 100 crore were also found."
The search action has resulted in the seizure of unaccounted cash of Rs.1.73 crore. In addition, unaccounted jewellery worth Rs.1 crore has been seized. Further investigations are in progress.
