NEW DELHI: In a crackdown against tax evasion, the Income Tax (I-T) Department on Tuesday conducted searches at 42 premises in the Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa region, in connection to hawala networks in these states.
In a statement, the I-T department said it has carried out a search and seizure action on October 26, 2020 on a large network of individuals running the racket of entry operation and generation of huge cash through fake billing. “So far, documents evidencing accommodation entries of more than Rs 500 crore have already been found and seized,” the statement added.
Also found were Rs 2.37 crore cash and jewellery worth Rs 2.89 crore has also been found along with 17 bank lockers, which are yet to be operated, it said.
“The searched persons were also found to be controllers and beneficial owners of several bank accounts and lockers, opened in names of their family members and trusted employees and shell entities, which they were managing in collusion with the bank officials, through the digital media. The same are being further investigated,” the department said in a statement.