IT Dept Investigated Case Coal Trader of WB & Evangelist in Kerala

On the 5/11/2020 income tax department conducted the operation in the context of the evangelist of Thiruvalla in Kerala along with the group of several trusts which enjoy the privilege beneath the Income Tax Act, 1961 “Get to know complete guide of TDS provisions under income tax act 1961 at here. Also, we include several topics as TDS returns, TDS due dates, penalt. Read more as the charitable trusts. The organization engages in managing the schools and colleges all over the country worship places, a medical college along with hospitals in Kerala. The operation included 66 places that are settled in Kerala, Tamilnadu, West Bengal, Karnataka, Chandigarh, Punjab, and Telangana.

The investigation continues various resourceful details which state that the donations have been collected from the foreign countries as seems to be so to help the poor, hungry and to convert the purposes, where but it truly is drawn out such tax-exempted funds in cash to interlock for uncounted cash transactions for personal and additional unauthorized expenses in real estate transactions.

The operations of the group were subjected to run in about 30 trusts, which are enrolled all over the country and the majority of them were named in the only in the papers and have been seen to be used to bypass the non counted funds along with the accommodation transactions.

The examination reveals various transactions concerning real estate transactions which consist of cash payments which are enrolled with various different organizations, who return back the money by illegal sources to several business organizations. And few parties have dirty hands in handling the money founded by the team. Various expenses were discovered upon the purchase of consumables, construction expenses, real estate development expenses, payment of salary, etc. in the search operations.

The Income Tax Dept search operation On the basis of secret sources, the income tax department will initiate a search program and take action for the case of a person who has indulged in the mining and hotel industry. Read more constitutes a various number of transactions conducted in real estate firms which involves unaccounted payment. Also, the related credentials such as sale agreement, etc have been captured by the group.

The Unexplained cash of around Rs. 6 crores has also been held while searching, which includes Rs 3.85 crore in a place of worship in Delhi.

IT Dept investigated the Case of Coal Trader of WB

On 5/11/2020 the income tax department All the unaccounted income and not paying up the taxes will not be fruitful from now onwards as the tax department has made it clear that it will be important investigated the case of the coal trader of West Bengal in his places Raniganj, Asansol, Purulia, and Kolkata. The examination is united by the intelligence officials which shows that the higher unaccounted cash has been initiated and is utilized for several purposes.

The company of the assessee group is involved with the bogus investments of Rs 150 crore which consists of unaccounted equity shares out of that Rs 140 crore is sold. These sale transactions shown have been discovered to be fake ones and have been accepted by the taxpayer the statement during the investigation.

The items such as coal and sand trading, sponge iron sales, etc. through which cash is generated have captured. Also, the documents were also sealed which shows huge unaccounted expenses for coal transport along with several trading exercises. The investigation sought uncalculated gold for Rs 7.3 crore.