Income Tax Raid: Six other people, including former Trinamool MLA Sohrab Ali, had their residences raided by the IT department. Since Wednesday morning, the Income Tax Department has been conducting raids at various places, including his office and apartment in Asansol, West Bengal.
Notably, raids have occurred at Sohrab Ali’s Rehmat Nagar home, and reports of raids have been received at the homes of Vijay Singh, Javed Khan, and Munnawar Hussain, Syed Imtiaz’s associate and business partner.
According to reports, the (BBC) British Broadcasters Corporation’s Delhi office was raided by the Income Tax Department. The BBC office has reportedly been locked off, and all employees’ phones have been seized.
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On Tuesday morning, the Income Tax Department searched the BBC headquarters in Delhi. The Income Tax Department team is still in the office, according to information from the sources.
BBC’s Indian office on KG Marg Road is currently being raided, according to sources. The employees have also been told to leave for home. The incident has also been reported to the BBC’s London headquarters.
On Saturday, income tax raids on the homes and businesses of numerous influential Saharanpur businessmen proceeded for the third day running. Since November 24, the Income Tax raids have caused a stir throughout the entire city.
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Let us inform you that on November 24, at around 6 am, Income Tax officers searched various places owned by numerous local merchants in more than a dozen vehicles. The city’s businessmen are in a panic as a result of the Income Tax Department’s raid. Numerous businessmen that are being raided also trade in real estate.
The Income Tax Department unit searched a church compound home and a jeweler’s store on Court Road. The team then continued their investigation of the Court Road store until late at night. Jewelers also deal in real estate. The crew also conducted a raid on a city honey trader’s home. The Ahmedabad home of a CA has also been searched by the income tax team. The squad also raided a hardware store in addition to these targets.
Action going on for 48 hours
In addition to the officers from Ghaziabad, the information collected indicates that the raiding force also included officers from Delhi and Kanpur. The crew is interrogating each trader. At all locations, the Income Tax Department’s operations continued until late in the day. Although the team’s participating Income Tax officials have been reticent to divulge any information. The same raid went on until late on November 25, the second day, and all of the officers stayed the entire night in the homes of these merchants.
Let us inform you that the city is experiencing a heated conversation climate as a result of the nonstop activity that has been occurring for the past 48 hours.
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IT Raid in Rajasthan: Rajendra Yadav, a minister of state for the home, and his family have been the subject of a raid by the income tax department in Rajasthan. In Jaipur, extensive raids have been carried out. The raiding activities only began this morning.
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According to reports, 50 locations were raided at once. The CRPF members who participated in the raid have been enlisted by the Income Tax Department as well. There are reportedly about 300 police officers participating in the proceedings. A minister who is regarded to be close to CM Ashok Gehlot is Rajendra Yadav.
Raid on Minister Rajendra Yadav’s residence
Raids are also underway in Jaipur at the residences and offices of Minister of State for Home Rajendra Yadav. Other businessmen have been roused by the Income Tax Department’s operations. According to reports, the Minister of State and his family members have the income tax key hidden in more than 53 locations. The Income Tax squad has been conducting raids since Wednesday at about 5:00 am. Along with the team, a sizable number of police officers and CRPF members are present. Additionally, about 100 trucks were utilized in the operation.
Midday meal supply-related matter
The issue relates to the disruption of the mid-day meal supply. After the IT raid, a sizable amount of black money is anticipated to be revealed. Early in the morning, teams from the Income Tax Department arrived at the homes, workplaces, and other locations of business organizations connected to the minister and his kin. The Minister of State’s house is also being searched. Rajendra Yadav, Rajasthan’s Minister of State for Home, is said to have relatives and relations working at the mid-day meal bag plant that is being raided in Kotputli.
Hero MotoCorp Chairman and MD Pawan Munjal are under income tax raid at his house and office. Pawan Munjal’s Gurgaon home and office are currently under search by the Income Tax Department.
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He is accused of claiming bogus expenses on his accounts. There have been reports that some of the suspicious expenses received by the IT team are also being paid for by in-house companies. This raid is expected to continue even further. As of yet, Hero MotoCorp and the IT department haven’t announced anything.
In reaction to this news, Hero MotoCorp’s shares began to fall. Before news of the raids was released, Hero MotoCorp was trading in profit. Once it caught on, the stock lost all momentum. About 10:30 am, Hero MotoCorp’s stock had fallen by about 2 percent.
The Hero MotoCorp company is the world’s largest manufacturer of two-wheelers. With offices in over 40 countries, the company produces bikes for a variety of markets. Heroes Motocorp is also present in countries such as Asia, Africa, and America. The power of Hero MotoCorp in the Indian two-wheeler market can be seen in some statistics. Hero MotoCorp is the company that sells 50 percent of all two-wheelers in India.
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Kanpur News: An Income Tax Department (IT Department) raid was conducted on Sunday in Chowk Sarafa, Kanpur, Uttar Pradesh, at four establishments of Kedarnath Sri Krishna Jewelers and KS Bullion, a century-old company. The raids are now complete. According to information received, three teams of the Income Tax Department completed their investigations on Sunday night and one team completed its investigation on Monday evening. In this period, undisclosed silver worth Rs 8.5 crore was seized. A total of Rs 16 lakh in undisclosed cash was also seized. In addition, lockers were confiscated as well.
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The investigation involving Bobby Agarwal and Sanjay Agarwal, the owner and CA of the firm, had been completed by Monday night. The raid resulted in the seizure of silver worth Rs 8.5 crore that was previously undisclosed. It is ingots and utensils that are recovered among the 1500 kg of silver. In these raids, papers of various properties were also found, but most of them were very old.
No purchase register, no sale register, no stock register, no maintenance register was found during the investigation. When income tax officers discovered the entire bookkeeping was 50 years old, they were surprised. The Income Tax Department is studying how today’s firm’s account is maintained using cash by a bookkeeper in the time of the International Accounting System.
Shri Krishna Jewelers’ owner Kedarnath is a Chartered Accountant. The KS brand is one of the three most popular brands in the state, and you can find KS products in stores under the brand name. Internationally, they are also in high demand for their silver items. Income tax officers are also surprised that such large businesses account for their finances using the old accounting methods of Baba Adam.
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