I-t Raids

Polycab tanks 23% as I-T dept finds Rs 1,000-crore as unaccounted sales

Polycab India, on its part, denied any rumours of tax evasion by the company

Odisha cash haul: I-T raids wind up after 10 days; sends report to CBDT

The Income-tax department raids being carried out against an Odisha-based distillery firm owned by a Congress MP's family, and some linked entities, ended early Friday, capping ten days of searches and recording the country's "highest-ever" cash haul at Rs 351 crore, official sources said. The last two I-T teams left the premises, one each in Odisha and Jharkhand, carrying with them a number of seized "incriminating documents" and data cloned from electronic gadgets in the early morning hours. The searches against the firm--Boudh Distillery Pvt. Ltd. (BDPL)-- and its linked entities were launched last week on December 6. The taxman also covered the family house of Congress Rajya Sabha MP Dhiraj Prasad Sahu in Ranchi apart from a number of entities including distributors and some hawala operators during these 10-day-long searches, they said. The searches came to a close in the early hours of December 15, the sources told PTI. A final appraisal report of the entire operation has bee

Congress' Jagadish Shettar questions BJP's moral right to raise corruption

He asked, why the Prime Minister did not direct Central investigating agencies to do an enquiry into the Karnataka contractor's allegation of demand for 40% commission during BJP's rule in the state

Karnataka raids: Rs 94 cr cash seized after I-T searches govt contractors

The Income Tax department has seized Rs 94 crore in cash as well as gold and diamond jewellery worth Rs 8 crore and 30 luxury watches following raids on government contractors and real estate developers in Karnataka and some other states, the CBDT said on Monday. The searches were launched on October 12 and 55 premises were covered by the department in Bengaluru and some cities in neighbouring Telangana and Andhra Pradesh as well as in Delhi. "The search has resulted in seizure of unaccounted cash of approximately Rs 94 crore and gold and diamond jewellery of over Rs 8 crore, aggregating to more than Rs 102 crore," the Central Board of Direct Taxes said in a statement. "Further, a cache of about 30 luxury wristwatches of foreign make were unearthed from the premises of a private salaried employee, not engaged in the business of wristwatches," it said without identifying the accused entities. A war of words on the matter has broken out between Karnataka's ruling Congress and the ..

Cooperating with authorities, promise all support: Lenovo on I-T searches

Chinese PC maker Lenovo on Thursday said it is cooperating with authorities and promised all support in the matter of searches carried out by Income Tax Department at its premises. The department conducted searches at Lenovo's Gurugram and Bengaluru premises on Wednesday as part of a tax evasion probe against the company and some of its affiliates. As responsible corporate citizens, we adhere strictly to all applicable laws, regulations, and reporting requirements in every jurisdiction in which we do business. We are cooperating with the authorities and will provide all possible support required," a Lenovo spokesperson said. The company clocked USD 1.9 billion revenue in India in 2022-23, with 17 per cent market share in the country. According to sources, the department suspected tax evasion and hence, launched the searches to gather evidence and corroborate actionable intelligence obtained by it in this regard.

I-T dept suspects Rs 800 crore tax evasion after 3-day raids on Azam Khan

The Income Tax department suspected a tax evasion of more than Rs 800 crore by senior Samajwadi Party leader Azam Khan after it conducted raids on him and people associated with him for three days, official sources said on Friday. Income tax sleuths who reached Khan's residence on Jail Road in Rampur in Uttar Pradesh at 7 am on Wednesday completed their search Friday evening. After the officials left his residence around 7 pm on Friday, Khan came out and said, "It was a raid of I-T department. They stayed here for three days. They conducted searches and asked questions." Khan refused to answer further questions. On September 13, the Income Tax department conducted raids at more than 30 premises in Uttar Pradesh and Madhya Pradesh as part of a tax evasion probe against Khan. Official sources said the department has conducted raids in Rampur, Saharanpur, Lucknow, Ghaziabad and Meerut in Uttar Pradesh apart from some premises in neighbouring Madhya Pradesh. In Ghaziabad, the Income T

I-T department searches multiple branches of RS Brothers in Hyderabad

The Income Tax (I-T) Department was conducting searches at multiple locations in Hyderabad on Friday

I-T raids at multiple locations linked to educational institutes in B'luru

The Income Tax department was conducting raids at the offices and buildings of some reputed private educational institutes in Bengaluru on Thursday

I-T dept recovers Rs 8 crore, 3 kg gold in raids on MP businessmen

The Income-Tax department has recovered Rs 8 crore in cash and three kilogram gold besides incriminating documents in raids on the premises of businessman Shankar Rai and his brothers in MP

Businessman Piyush Jain sold perfume compounds to 50 countries

Financial intelligence teams probing the recovery of around Rs 200 crore during raids in Kanpur-Kannuj have now found that perfume and compound businessman Piyush Jain has links across 50 countries

Amid I-T raids on Chinese mobile firms, Xiaomi, OPPO say cooperating

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

I-T department searches 2 business groups based in several states

The first group is engaged in digital marketing and campaign management while the second group searched is engaged in solid waste management

IT dept widens probe against actor Sonu Sood; searches multiple premises

The Income Tax Department has widened its tax evasion probe against actor Sonu Sood as it raided multiple premises in Mumbai, Nagpur and Jaipur on Friday, official sources said. The department had launched the action against the 48-year-old actor and some people linked to him on Wednesday and the action continued. The searches have now been extended to more locations in Mumbai, Nagpur and Jaipur, they said. On Wednesday, the action was carried out in at least half a dozen locations in the metropolitan city and Lucknow. A real estate deal and some other financial transactions linked to Sood are under the scanner of the department, official sources had said. The actor grabbed the national spotlight for helping migrants reach their home states during the nationwide lockdown clamped last year in the wake of the COVID-19 pandemic. The Delhi government, led by Chief Minister Arvind Kejriwal, had recently declared that Sood will be the brand ambassador of the Aam Aadmi Party government'

I-T department raids Dainik Bhaskar group; govt denies interference

Raids also at Bharat Samachar offices

Crackdown on tax evaders: I-T notices to holders of foreign assets

Seek action under black money and benami laws for non-disclosure

I-T raids on Taapsee, Kashyap: FM says they were raided in 2013 as well

Sitharaman on Friday said the same persons were raided in 2013 as well, but no issue was made out then as it is being done now.

I-T raids being carried out in medical colleges in Karnataka

Searches are being carried out in various medical colleges in Karnataka by IT sleuths

I-T dept records Robert Vadra's statement for 2nd day in benami assets case

The I-T dept questioned Robert Vadra for about four hours on the second consecutive day on Tuesday in connection with its probe against him under the benami assets law, official sources said

3/4th of demand raised by I-T after searches not upheld, says CAG

This was because additions were made related to transactions based on the documents found, which were disclosed by the assessee

Money laundering: I-T raids continue on Chinese individuals, local contacts

I-T dept has seized a number of documents and computer peripherals and has recovered about Rs 60-70 lakh cash from multiple premises in the Delhi-NCR region till now