The Income Tax Department’s search of seven Tapan Group sites in Agra lasted more than 72 hours. The group’s operators declared income of about 40 million rupees. The group evaded taxes by not declaring its profits. The Income Tax Department seized important documents during the search. Electronic devices were also seized. After reviewing the data, the authority will determine the group’s actual income.
Search was done at the branches of Tapan Group
Under the direction of Joint Director Income Tax (Investigation) and Assistant Director Income Tax (Investigation) Unit – II, the search was started at 7:30 am on Monday morning at Tapan Group locations in Dayalbagh and Runkta. The search continued on Tuesday and Wednesday as well. On Thursday, the search was completed at 8 am. In the process, the department has found a large number of documents hiding details of the group’s undisclosed income.
The department may get an amount more than 10 Crore
The Income Tax Department has also seized several electronic gadgets, which will be tested. Based on these the actual income of the group will be calculated. The group has invested a lot in properties. Apart from this, there is also talk of getting cash and precious metals. The department is also engaged in their assessment. It is estimated that from the surrender made by the group, the department may get more than Rs 10 crore. Departmental officials are not giving official version about this action.
Reconciliation of Income Tax Returns
The Income Tax Department checked the records of the purchase of raw materials, production process, supply of goods, collection of payments etc. with the group. Cases of issue of invoices less than the actual amount have been found. The return is reconciled with checking the details of the expenses shown in the business.
Business spread in many states
Tapan Group produces several brands of edible oil. His business is spread in Agra as well as in Rajasthan and Delhi. More than three dozen officers of the department were involved in the action. Apart from Agra, there were officers from Delhi, Noida, Kanpur, Firozabad, Etah, Mainpuri and Etawah.
Investigation both locations at same time
For the first time in the city, the investigation wing of the Income Tax Department took action at two places simultaneously. On Tuesday, where teams were engaged in search at seven locations of Tapan Group, action was taken at Tiwari Gali in Rawatpada and three hawala agents in Chittikhana. Cash and slips worth Rs 2.8 crore were recovered from here. Big cases have come to light from these slips, but departmental officials are denying any link in the action taken at both the places. The department is now preparing to take action on the unorganized sector.
Investigation can reach other suspicious places
Many other people are also expected to be involved in the evidence found in the departmental investigation, although the department will be able to clarify it only after examining the evidence found from the spot. Departmental sources believe that after this action, many other traders and businessmen can also be charged.
Good Information