IT Dept conducts searches in Delhi, NCR in connection with …

IT teams on Tuesday swooped down on three business groups, which had interests in metals, food processing, financial services and others.

Income Tax Department conducted searches at over 25 locations in Delhi and the NCR in connection with its tax evasion probe into the Panama Papers leak cases.

Official sources said, IT teams on Tuesday swooped down on three business groups, which had interests in metals, food processing, financial services and others.

The names and links of the business groups had featured in the Panama Papers and it was detected that these entities were highly suppressing their actual turnover and income.

The Central Board of Direct Taxes had recently said that the probe into the Panama Papers leak cases had led to the detection of undisclosed wealth of 792 crore rupees. It said probe is progressing in full swing.

... read more at: http://www.ddinews.gov.in/national/it-dept-conducts-searches-delhi-ncr-connection-panama-papers-leak-case

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