IT raids in Kolkata, assets seized

Kolkata, July 31 (UNI) Income Tax sleuths raided differents parts of the city and in Mumbai on Thursday and seized assets worth Rs 1.96 crore.

Official sources said in all nine places have been raided, of them eight in Kolkata and one in Mumbai. In addition to that in twelve places, surveyes u/s 133A were conducted, including one each in Mumbai, Bangalore and Gujarat.

The people, who were came under raid, were mainly engaged in dairy products, production of packaged food and beverages, wholesale distributor of FMCG products and manufactured by a reputed company.

Papers showing cash sales outside the regular books, cash payments for obtaining entries in the form of gifts, loans and bogus long term capital gains to launder unaccounted money have been seized. A good number of lockers have been placed under prohibitory orders.

The group has voluntarily admitted undisclosed income of Rs.12.20 crore.

UNI TJP PC RN RL KN2022