The Income Tax department recovered over Rs 150 crore cash after raids on an Odisha-based distillery group and linked entities for alleged tax evasion. Searches were carried out in Bhubaneswar, Balangir, Sambalpur, Ranchi and Kolkata.
Bhubaneswar, Dec 7 (PTI) The Income Tax department on Thursday recovered more than Rs 150 crore cash after it carried out searches against an Odisha-based distillery group and linked entities on charges of alleged tax evasion, official sources said.
The raids were launched on Wednesday and the department officials have deployed counting machines to ascertain the exact amount of cash that appears to be "unaccounted", they said.
The sources identified the main business group under search as Boudh Distillery even as the tax officials also raided some linked entities.
An email query sent by PTI to the company in this context did not elicit a response.
Cash worth more than Rs 150 crore has been recovered and the searches are continuing, according to the sources.
It was not clear if the cash was recovered from one or multiple locations.
The searches are being undertaken in capital Bhubaneswar, Balangir and Sambalpur apart from Ranchi and Kolkata, the sources said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback