Income Tax Raid

Uflex down 25% in 1 wk on tax raid report, hits lowest level since May 2021

Shares of Uflex India tumbled 15 per cent to Rs 366 on the BSE in Monday's intra-day trade

I-T department searches multiple branches of RS Brothers in Hyderabad

The Income Tax (I-T) Department was conducting searches at multiple locations in Hyderabad on Friday

Chhattisgarh will soon see ED, I-T raids for housing Jharkhand MLAs: Baghel

Chhattisgarh Chief Minister Bhupesh Baghel on Friday said his state is soon going to witness raids by the Enforcement Directorate (ED) and the Income Tax (I-T) department because MLAs of the ruling coalition in neighbouring Jharkhand are staying in a resort near capital Raipur. Talking to reporters at the helipad here, the Congress leader targeted the Bharatiya Janata Party (BJP), saying it does not have faith in democracy. He said MLAs of the United Progressive Alliance (UPA), which consists of the Jharkhand Mukti Morcha (JMM), the Congress and the Rashtriya Janata Dal, have been housed in a resort on the outskirts of Raipur to protect democracy. The BJP does not have faith in democracy. Jharkhand (ruling coalition) MLAs are staying in Raipur and we have welcomed them. Now, the BJP is protesting against it. My well wishers have informed me that soon the state will see raids by the ED and I-T because we have stationed Jharkhand MLAs here to protect democracy, Baghel said. The CM

I-T dept detects Rs 250 cr 'black' income after Kolkata business group raid

The Income-tax department has detected "unaccounted" income of more than Rs 250 crore after it recently raided a Kolkata-based group engaged in manufacturing of power transmission and distribution equipments apart from few other businesses, the CBDT said Thursday. The searches were launched on August 24 and 28 on the premises of the group, which is also involved in manufacturing of steel pipes and polymer products, in West Bengal and Jharkhand. "Evidence of use of unaccounted cash for acquisition of immovable property and unaccounted cash loan, etc. has also been found and a preliminary analysis of seized evidence reveals that several shell (bogus) companies have been utilised by the group to provide accommodation (hawala) entries to its flagship concerns," the Board said in a statement. The Central Board of Direct Taxes (CBDT) frames policy for the tax department. The shell entities have been found to have routed back the unaccounted money in the guise of share capital or unsecure

I-T team raids J'khand hotel to nab 'close aide' of Partha, unsuccessful

An Income Tax Department team conducted a raid at a hotel in Bhandara Park in Hazaribagh district, after getting information about the visit of an alleged close aide of arrested former Bengal minister Partha Chatterjee, officials said on Friday. The person, however, reportedly left the hotel hours before the I-T team arrived. The team, which has been camping in Hazaribagh in connection with another case, received an input from the Enforcement Directorate in Kolkata, that the person was in Bhandara Park allegedly to hide unaccounted money, they said. Personnel of the income tax unit then sealed all the entrances of the park, which comprises a multiplex, a hotel and a marriage hall, the officials said. The man in question "is considered close" to Chatterjee, who was recently arrested from Kolkata by the ED in a school jobs scam, they added. A spokesman of the Income Tax Department, who did not wish to be named, said they conducted raids at the hotel on Thursday for around eight hour

Income Tax Department conducts searches in 18 places in Delhi, Mumbai

The official said that a total of 18 premises across Delhi, Mumbai and Daman were covered during the search action

Dolo-650 manufacturer faces raids by I-T dept in tax evasion case

A team of more than 20 officers associated with the I-T dept conducted the raids on the pharma company's Race Course Road office

I-T Dept raids Dolo-650 manufacturer Micro Lab's office in Bengaluru

The company has sold 3.5 bn tablets since the Covid-19 outbreak in 2020 and earned revenues of Rs 400 cr in a year crushing all rivals, sources said

I-T dept raids at 400 locations of liquor barons, others across nation

The Income Tax department on Wednesday started search operations at about 400 locations belonging to various groups, including liquor barons, across the country, sources said

Hero MotoCorp made over Rs 1k-cr bogus expenses, I-T search reveals: Report

Income Tax Department carried out a search and seizure operation on March 23 on Hero Motocorp and its chairman and managing director Pawan Munjal at multiple locations in Delhi-NCR

I-T dept raids online cricket betting group; finds Rs 600-cr cash turnover

The group was operating in a clandestine manner and had concealed its operations and income from law enforcement agencies, the Central Board of Direct Taxes (CBDT) said in a statement

Top headlines: I-T raids on former NSE MD; Nestle India Q4 net falls 20%

Here are the top headlines on Thursday

I-T dept detects tax evasion worth crores after raids on Maharashtra groups

The searches were carried out on December 22 at over 25 premises of the unidentified groups in Nandurbar, Dhule and Nashik districts of the state

I-T dept finds black income of Rs 300 cr after raids on 2 Rajasthan groups

The raids were carried out on December 22 and about 50 premises of the two unidentified groups located in Jaipur, Mumbai and Haridwar were covered

US-based media body condemns tax raids on Dainik Bhaskar, Bharat Samachar

A US-based media body has said New Delhi should drop these investigations aimed at 'intimidating' news outlets critical of its government

DMK slams Centre for 'income tax searches' in Stalin's daughter's residence

The DMK condemned the government for 'searches' by income tax officials in the residence of party chief M K Stalin's daughter Senthamarai in Chennai and alleged it has a 'political objective'

Taapsee Pannu reacts to I-T raids, Sitharaman's tweet: The story so far

Actor Taapsee Pannu on Saturday put out three tweets on an alleged bungalow in Paris, the alleged receipt of Rs 5 crore and her memory of the 2013 raid. Here's all you need to know about the controver

Suppression of Rs 300-cr box-office income by film production house: Govt

Ministry of Finance says 'two leading film production companies, a leading actress and two talent management companies' are under I-T scanner

IT detects Rs 1,400 cr undisclosed transaction after raids in Jaipur

The search and survey operation was carried out on January 21 at a total of 31 premises of these entities

Tax evasion: I-T makes highest cash seizure of Rs 9.55 cr in Pune

The policy-making body of the department said the action was undertaken on November 4. It did not identify the entity.