I-T dept raids Delhi-based synthetic yarn maker, uncovers Rs 380 crore in undeclared income
India Today
The group has routed its own unaccounted funds to the tune of Rs 380 crore in its books in the form of bogus un-secured loans, through paper entities, over the past few years.
The Income Tax department carried out a search and seizure operation at a synthetic yarns and polyester chips making company in Delhi and detected tax evasion worth crores of rupees, the Central Board of Direct Taxes (CBDT) said on Thursday. The company has its corporate office in Delhi and factories in Dadra and Nagar Haveli and Dahej in Gujarat.More Related News