Tax Department Search & Seizure Program Started in UP & Bihar

On the basis of secret sources, 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 will initiate a search program and take action for the case of a person who has indulged in the mining and hotel industry on 06-10-2020 in Patna, Sasaram, and Varanasi. A lookout shall also be conducted for the case of the chairman of a cooperative bank.

From the investigation, an amount of Rs 75 lakh was discovered in the car to which it belongs to. The examinations state that this money was not accountable in front of the income tax department and has a connection with the chairman of the cooperative bank. In the investigation, the cash and documents which had no records along with the abundant cash transactions were found and seized. These transactions will not show in the related returns of Income.

The department is indeed examining the source of investment for houses, a hotel and various vehicles. The documents had revealed an illegal mining stone which has not been declared in the accounts which were bought by the group. Aso investigators are also undertaking the accounts which reflect crores of credits.

With a sum of Rs 1.25 crores there unaccounted cash which is seized whereas FDRs worth Rs 6 crore which has been taken into custody.