Income Tax Department conducts searches in Delhi

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..... Income Tax Department conducts searches in Delhi
News and Press Release
Dated:- 30-12-2020

The Income Tax Department carried out search and seizure action on a number of hawala operators .....

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..... engaged in the activity of routing and handling unaccounted cash in Delhi region. The search action has resulted in unearthing of incriminating evidences revealing various shell entities being used .....

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..... for raising bogus purchase/sale bills, and routing of unaccounted funds through several layers of bank accounts. Such shell entities are closed after two months, and new ones are formed. Further, inc .....

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..... riminating documents evidencing suppression of sales and bogus purchases in excess of ₹ 300 crore is detected. The search action has resulted in seizure of unaccounted cash of ₹ 14 crore .....

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..... and Bullion worth ₹ 2 crore. Further investigations are in progress.
News - Press release - PIB .....

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