The Search on a prominent business group is conducted by the the Income Tax Department

The Search on a prominent business group is conducted by the the Income Tax Department

The Income Tax Department had conducted search operations on a group based in Delhi relating to tax evasion as well as money laundering. The group has been engaged in several e-governance projects along with financial services. It has its presence across many cities in India as well as also in Dubai.

The search and seizure action done by the IT department had led towards unearthing of numerous incriminating evidence establishing large scale tax evasion, hawala transaction as well as money laundering by the alleged taxpayer group. The group has taken recourse in the direction of using shell corporations based in Delhi / Kolkata to route unaccounted money.

Earlier, the IT Department had conducted search activities on entities related to Fertilizer procurement. The carried investigations had exposed that huge amount of commission has been collected in Dubai through shell corporations of a Dubai based operator who is also a suspect in a VVIP Chopper scam. A part of such commission was laundered back near India through the aforementioned Delhi based group.

The initial investigations have exposed the quantum of accommodation entries as well as hawala transactions to be above Rs. 1000 crore.

The Press release by the Government of India could be read here


eStartIndia is the professional tech-based online business and legal services providing a platform that helps the clients to simplify the procedures of all kinds of registration, implementation, tax concerns and any other compliance and services related to the business in India.


eStartIndia Team

Leave a Comment

Previous Comments

Related Blogs