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10 Jan 2022

Income Tax Department Carries Out Search And Seizure Operation: CBDT

Latest reports have been coming in from CBDT which has shared through ANI that Income Tax Department carried out search and seizure operation on January 5.

According to reports this search operation has been carried out on two groups, engaged in the business of quarry operation. 

According to CBDT more than 35 premises spread across Kottayam, Eranakulam, Thrissur, Palakkad & Kannur have been covered in the search operation.

It further stated that various incriminating documents and digital evidence have been found and seized.

This has been including a parallel set of books of account recording the entries of actual sales and receipt of cash. 

These evidence have clearly revealed the modus operandi being followed by the quarry operators according to CBDT.

CBDT further stated that the search action has resulted in seizure of unaccounted cash of more than Rs 2.30 crores. 

According to the reports so far the search has led to the detection of estimated unaccounted income to the tune of Rs. 200 crores as per CBDT.

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