New Delhi, May 16 (). The Income Tax Department on Monday said it conducted searches and seizures of a business group operating out of North Bengal recently, unearthing unaccounted cash receipts of about Rs 100 crore.
In this operation, unaccounted cash of Rs 1.73 crore and jewelery worth Rs one crore were also seized.
According to sources, the business conglomerate is controlled by a person with an active political background.
Searches were also conducted at the premises of his close business associate, an Income Tax official said. The conglomerate is engaged in a diversified business, which includes production and marketing of Paddy Bran Oil, Mustard Oil, De-oiled Rice Bran (DORB), variety.
A total of 23 premises spread across Uttar Dinajpur, Dakshin Dinajpur, Malda, Kolkata, Siliguri in West Bengal and Guwahati and its surrounding areas in Assam were covered, the Income Tax Department said.
The search operation revealed that the group was suppressing its produce and making unaccounted cash sales of edible oil and DORB. During the search operation, many such cases of cash transactions have come to the fore, which are not recorded in the regular books of account.
Digital evidence consisting of handwritten notes, documents and extracts of cash transactions have been seized. Parallel cash books and bogus claims of expenses have also been detected. Preliminary investigation has revealed unaccounted income of more than Rs 40 crore.
Incriminating documents were found against cash payment of Rs 17 crore in land acquisition during searches at the premises of a close business associate of the main business group, a leading exporter of agricultural products in north Bengal’s Malda district, the official said.
Details of unaccounted cash receipts of around Rs 100 crore have also been received, the official said.
SGK/ANM
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