• About Us
  • Advertise
  • Contact Us
  • DMCA
  • Follow on Google News
Monday, October 13, 2025
  • Login
Tribune Newsline
  • Home
  • India
    • National
    • State News
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Photography
    • Food
  • Tech
    • App News
    • Gadgets
  • Auto
  • Sports
  • World
  • Others
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Social Work
    • Press Release
    • Religion
No Result
View All Result
  • Home
  • India
    • National
    • State News
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Photography
    • Food
  • Tech
    • App News
    • Gadgets
  • Auto
  • Sports
  • World
  • Others
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Social Work
    • Press Release
    • Religion
No Result
View All Result
Tribune Newsline
No Result
View All Result
Home Finance/Money

Income Tax Department conducts searches in Guwahati

Tribune Newsline by Tribune Newsline
December 26, 2020
in Finance/Money
Share on FacebookShare on Twitter

New Delhi : Income Tax Department started a Search and Survey action on 22.12.2020 in the cases of three leading contractors of North Eastern India. One of the groups is also into Hospitality business. The Search and Survey actions are being carried out at 14 locations in Guwahati, Delhi, Silapathar and Pathsala (Assam).

The main allegations against the three groups are that they have taken accommodation entries in the form of non genuine unsecured loans and also securities premium from dubious Kolkata based shell companies. The three groups have suppressed their net profits across the years and routed back into business the unaccounted income through entry operators based out of Guwahati and Kolkata.
During the course of Search actions, it has been established that the shell companies from which loans/ premium had been taken exist only on paper and have no real business and creditworthiness. The entry operators, on being questioned, have admitted that the unsecured loans/share premium from the shell companies to the groups are non-genuine and bogus. Evidences of the cash trail of routing of funds through Securities premium was unearthed during search. It has been established that amounts to the tune of about Rs. 65 crore were routed back into regular books involving Shell companies which actually represent unaccounted income of the group. Further investigation is on to detect the actual quantum involved in tax evasion using this modus operandi.
It has been gathered during the Search action that one of the groups engages in huge cash transactions in hospitality business of proportions as high as 50%, which is under examination. It has been further gathered that some of the entities of the groups engage in purchases of Jewellery in cash. The source of the cash purchases are under examination.
Till now, Jewellery to the tune of Rs. 9.79 lakh has been seized. The sources of acquisition of remaining Jewellery found exceeding Rs. 2 crore are under verification. Cash of Rs 2.95 crore has also been seized. Overall, undisclosed income to the tune of approximately Rs. 100 crore has been unearthed so far during the Search and Survey operation. One locker has been found, which is yet to be operated.
Further investigations are under progress. -PIB

Related posts

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All

January 31, 2025
Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans

Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans

October 23, 2023
Tags: GuwahatiIncome Tax Department
Previous Post

Central Government gears up for roll out of COVID19 Vaccine

Next Post

PM to inaugurate India’s first-ever driverless train operations on Delhi Metro’s Magenta Line

Tribune Newsline

Tribune Newsline

Related Posts

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All
Finance/Money

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All

January 31, 2025
Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans
Finance/Money

Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans

October 23, 2023
Payment Aggregator Paysharp Private Limited gets ISO 27001 certification
Finance/Money

Payment Aggregator Paysharp Private Limited gets ISO 27001 certification

October 9, 2023
Alok Kumar Agarwal of Alankit talks about tax planning and its benefits
Finance/Money

Alok Kumar Agarwal of Alankit talks about tax planning and its benefits

July 17, 2023
Leveraging Technology for Manufacturing & Pharma Industry Growth: The Vision of Subodh Bajpai, India’s Funding Guru
Finance/Money

Leveraging Technology for Manufacturing & Pharma Industry Growth: The Vision of Subodh Bajpai, India’s Funding Guru

June 15, 2023
Univest collaborates with Pratik Gandhi to conquer retail investor challenges
Finance/Money

Univest collaborates with Pratik Gandhi to conquer retail investor challenges

January 10, 2023
Next Post

PM to inaugurate India’s first-ever driverless train operations on Delhi Metro’s Magenta Line

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Entrepreneur and YouTuber Alina Al Zubaidi still the queen of social media after becoming a Mother

Entrepreneur and YouTuber Alina Al Zubaidi still the queen of social media after becoming a Mother

3 years ago
Showcasing Vikash Kalra’s Grand Meditation on Shiva, Shiv, and Tantra

Showcasing Vikash Kalra’s Grand Meditation on Shiva, Shiv, and Tantra

2 years ago

Jewar Airport brightens real estate prospects of strategically located adjoining areas like Sector 150, Noida

4 years ago

Train differently with the MMA Champion -Alan Fenandes

5 years ago
Topline Carbazaar: Your Trusted Pre-Owned Car Dealers in Siliguri

Topline Carbazaar: Your Trusted Pre-Owned Car Dealers in Siliguri

2 years ago
BALCO observes World Breastfeeding Week by launching week long awareness campaign

BALCO observes World Breastfeeding Week by launching week long awareness campaign

3 years ago

BROWSE BY CATEGORIES

  • Agriculture
  • App News
  • Astrology
  • Auto
  • Business
  • Education
  • Entertainment
  • Fashion & Beauty
  • Finance/Money
  • Food
  • Gadgets
  • Health & Fitness
  • Lifestyle
  • National
  • Photography
  • Politics
  • Press Release
  • Religion
  • Science
  • Social Work
  • Sports
  • State News
  • Tech
  • Travel
  • Uncategorized
  • World

BROWSE BY TOPICS

Ace Entrepreneur actor Artificial intelligence Bengaluru Blockchain technology COVID-19 Cryptocurrency CSIR DBT Delhi Department of Biotechnology digital marketing DST Dubai Education entrepreneur Fairplay Gujarat Gurugram Hyderabad IIT Delhi Indian Institute of Technology Influencer Influencerquipo innovation Kingston Technology K Raheja Corp Homes LANXESS Lotus Herbals memory products and technology solutions model MoES Mumbai Music Industry producer Pune real estate research science Shan Se Entertainment Shantanu Bhamare social media Surat technology solutions Urvashi Rautela

Latest News

Jediiians Got Talent 2025 — A Celebration of Creativity, Expression, and Campus Spirit

Jediiians Got Talent 2025 — A Celebration of Creativity, Expression, and Campus Spirit

October 13, 2025
LANXESS India recognized with three prestigious honors by the Indian Chemical Council

LANXESS India recognized with three prestigious honors by the Indian Chemical Council

October 13, 2025
VINR Cosmeticals: Bootstrapped Skincare Brand Now Set to Cross Rs.15 Crore Sales, Backed by Canadian Venture Capitalist

VINR Cosmeticals: Bootstrapped Skincare Brand Now Set to Cross Rs.15 Crore Sales, Backed by Canadian Venture Capitalist

October 10, 2025
Lotus Herbals Unveils New Campaign for Its Iconic White Glow Gel Crème

Lotus Herbals Unveils New Campaign for Its Iconic White Glow Gel Crème

October 9, 2025
Meet Udaipur’s Top 3 Wedding Planners Behind the Most Beautiful Weddings in Udaipur 

Meet Udaipur’s Top 3 Wedding Planners Behind the Most Beautiful Weddings in Udaipur 

October 8, 2025

Popular News

  • IIT Delhi launches new online platform to facilitate researchers

    62 shares
    Share 25 Tweet 16
  • Decimal Point Analytics (DPA) with 400 candidates, targets for 4000-Mega job and Career Opportunities

    55 shares
    Share 22 Tweet 14
  • Campaign Strategies that Redefine Consumer Engagement in the Building Materials Industry

    55 shares
    Share 22 Tweet 14
  • Bonding well with your in-laws

    55 shares
    Share 22 Tweet 14
  • Fashion Designer Seema Kalavadia honoured with Times Icons of Surat 2020-21

    54 shares
    Share 22 Tweet 14
  • Jasmin Bhasin on the Cover Page of The Lifestyle Journalist Magazine

    54 shares
    Share 22 Tweet 14
  • IIM Rohtak Welcomes the Governor of Haryana

    54 shares
    Share 22 Tweet 14

Tribune Newsline, digital news and story platform bring you the news, articles, stories, and opinions on the latest happenings worldwide covering various sectors like nation, politics, and governance, social sector, review, foreign affairs, defence and security, latest review, lifestyle, entertainment, sports, technology, auto sectors, education, business and start-ups updates, Agriculture, Science, finance, money, food, and culture, etc.

Follow us on social media:

Latest News

  • Jediiians Got Talent 2025 — A Celebration of Creativity, Expression, and Campus Spirit
  • LANXESS India recognized with three prestigious honors by the Indian Chemical Council
  • VINR Cosmeticals: Bootstrapped Skincare Brand Now Set to Cross Rs.15 Crore Sales, Backed by Canadian Venture Capitalist
  • Lotus Herbals Unveils New Campaign for Its Iconic White Glow Gel Crème
  • Meet Udaipur’s Top 3 Wedding Planners Behind the Most Beautiful Weddings in Udaipur 
  • Bollywood Actor Shantanu Bhamare bagged ‘King Of Romance’ Award!

Category

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    

Recent News

Jediiians Got Talent 2025 — A Celebration of Creativity, Expression, and Campus Spirit

Jediiians Got Talent 2025 — A Celebration of Creativity, Expression, and Campus Spirit

October 13, 2025
LANXESS India recognized with three prestigious honors by the Indian Chemical Council

LANXESS India recognized with three prestigious honors by the Indian Chemical Council

October 13, 2025
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Follow on Google News

© 2022 Tribune Newsline.

No Result
View All Result
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Home
  • Privacy Policy

© 2022 Tribune Newsline.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In