Panama Papers tax evasion; I-T deptt carries out searches in national capital; heres more
As part of its Panama Papers tax evasion case probe, the Income Tax (IT) department conducted searches at over 25 locations in Delhi and the National Capital Region.
The I-T teams swooped down on three business groups, which had interests in metals and food processing, financial services and tyres.
The department had recovered about Rs 4 crore cash and jewellery during the ongoing searches in Delhi, Ghaziabad and Faridabad till now, the sources said, adding that a number of documents, computer hard discs and CDs were seized.
At least 25 locations in Delhi-NCR were covered during Tuesday’s search-and-survey operations, the sources added.
The Central Board of Direct Taxes (CBDT), which frames the policies of the IT department, had recently said that the probe into the Panama Papers leak cases had led to the detection of undisclosed wealth of Rs 792 crore and that the probe was on in “full swing”.>