look news india
Agra: The action being taken by the Income Tax Department against the shoe traders of the city continued till 8 pm on Tuesday night. In this operation which lasted for about 81 hours, the department recovered cash worth Rs 57 crore and jewelery worth Rs 1 crore.
The Income Tax Department had started investigation at 11 am on Saturday at 14 locations of Ramnath Dung of Harmilap Traders, Ashok Midda and Subhash Midda of BK Shoes and Hardeep Midda of Manshu Footwear in Heng Mandi. On the fourth day on Tuesday, Income Tax Department teams remained busy interrogating businessmen throughout the day.
Rs 57 crore have been recovered from all three.
The Income Tax Department team returned from Ramnath Dang's Jaipur House and New Govind Nagar residence in the evening. The operation at BK Shoes continued till 8 pm. The Income Tax Department has deposited the Rs 57 crore recovered from Ramnath Dang, Ashok Midda, Subhash Midda and Hardeep Midda in the State Bank of India. The highest recovery of Rs 53 crore was made from Ramnath Dang's house. The photo of the boxes of notes kept on his bed went viral on the internet media.
4 crore cash from BK Shoes and Manshu Footwear
Cash worth about Rs 4 crore has been recovered from BK Shoes and Manshu Footwear. The department has seized jewelery worth Rs 1 crore from the three businessmen. Shoe traders have shown fake expenses in their records. The Income Tax Department has collected data from mobiles, computers and laptops in the form of documents as well as electronic evidence. On the basis of these, the department will now investigate the transactions of businessmen.
Raid on information about disproportionate assets
The Income Tax Department had taken action against shoe traders on charges of tax evasion and giving excessive property information. Shoe traders pay factory operators on Saturdays and have excess cash. Therefore the department has started action on Saturday. Income Tax Department officials say that a thorough investigation of the documents recovered from the businessmen will provide information about tax evasion and acquisition of disproportionate assets. On the basis of this, fine will be imposed on traders.
Ramnath's investment in property has decreased
Major investments in the property have been made by Ashok and Subhash Midda of BK Shoes and Hardeep Midda of Manshu Footwear. During the investigation, the Income Tax Department got information from him about proper investment in property. Ramnath Dang has invested less in property.
This is the biggest cash recovery so far in the Income Tax Department's action in Agra. Rs 57 crore cash was never found here. The businessmen have not surrendered due to receiving such a huge amount in cash.
action taken here
Purti Niwas Kamala Nagar, Braj Vihar Kamala Nagar, Purti Villa Surya Nagar, MG Road, Ragini Heights, Shankar Greens, UPSIDC. Sikandra, Shri Ram Mandir Bazaar Asafoetida Mandi, Pratap Kaleni Dhakaran, Alok Nagar Jaipur House, Dhakaran Chauraha 1/10 & /11, New Govind Nagar, Charbagh Shahganj