The income tax department has conducted search and seizure operations on a business group operating largely in North Bengal region of the West Bengal, which has revealed unaccounted income of over Rs 40 crore.
“The search action revealed that the group was suppressing its yield and making unaccounted cash sales of edible oils and DORB (de-oiled rice bran). Several instances of cash transactions not recorded in regular books of account were detected during the search operation,” said the finance ministry on Tuesday. Further, handwritten notes, documents and digital evidences containing extracts of cash transactions were seized and parallel cash books and bogus claim of expenses were found.
The business group is controlled by a person with an active political background, said the ministry, adding that it is engaged in a variety of businesses ranging from production and sale of edible rice bran oil, mustard oil, DORB, different types of chemicals and real estate. A total of 23 premises spread over Uttar Dinajpur, Dakshin Dinajpur, Malda, Kolkata, Siliguri in West Bengal and Guwahati in Assam and surrounding areas were covered.
A search operation was also conducted on the close business associate of the main business group, who is a leading exporter of agro products in Malda district of North Bengal. It resulted in seizure of unaccounted cash of Rs 1.73 crore as well as unaccounted jewellery worth Rs 1 crore.
“Incriminating documents against cash payments in land acquisition to the tune of Rs 17 crore have been found. Details pertaining to unaccounted cash receipts of about Rs 100 crore were also found,” the ministry said, adding that further investigations are in progress.
