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IT Dept: Suspected transactions of Rs 300 crore detected in Delhi
By IndianMandarins- 30 Dec 2020
6109New Delhi (29.12.2020): The Central Board of Direct Taxes (CBDT) on Tuesday said that the Income Tax department raided a number of hawala operators in Delhi and detected suspect transactions worth Rs 300 crore (approx.). The IT Dept seized unaccounted cash of Rs 14 crore and bullion worth Rs 2 crore". Reportedly, the search action resulted in the unearthing of incriminating evidence revealing various shell (dummy) business entities being used for raising bogus purchase/sale bills and routing of unaccounted funds through several suspicious bank accounts. The IT Dept observed that such shell entities are closed after two months and new ones are formed.
IT Dept: Suspected transactions of Rs 300 crore detected in Delhi
By IndianMandarins - 2020-12-30 09:27:00
New Delhi (29.12.2020): The Central Board of Direct Taxes (CBDT) on Tuesday said that the Income Tax department raided a number of hawala operators in Delhi and detected suspect transactions worth Rs 300 crore (approx.).
The IT Dept seized unaccounted cash of Rs 14 crore and bullion worth Rs 2 crore".
Reportedly, the search action resulted in the unearthing of incriminating evidence revealing various shell (dummy) business entities being used for raising bogus purchase/sale bills and routing of unaccounted funds through several suspicious bank accounts. The IT Dept observed that such shell entities are closed after two months and new ones are formed.
