{"id":29447,"date":"2021-03-01T21:44:47","date_gmt":"2021-03-01T16:14:47","guid":{"rendered":"https:\/\/newsmakhani.com\/?p=29447"},"modified":"2021-03-01T21:44:47","modified_gmt":"2021-03-01T16:14:47","slug":"income-tax-department-conducts-searches-in-hyderabad","status":"publish","type":"post","link":"https:\/\/newsnarad.com\/pa\/income-tax-department-conducts-searches-in-hyderabad\/","title":{"rendered":"Income Tax Department conducts searches in Hyderabad"},"content":{"rendered":"<p class=\"qtranxs-available-languages-message qtranxs-available-languages-message-pa\">\u0a2e\u0a3e\u0a2b\u0a3c \u0a15\u0a30\u0a28\u0a3e, \u0a07\u0a39 \u0a16\u0a2c\u0a30 \u0a24\u0a41\u0a39\u0a3e\u0a21\u0a40 \u0a2c\u0a47\u0a28\u0a24\u0a40 \u0a2d\u0a3e\u0a38\u0a3c\u0a3e \u0a35\u0a3f\u0a71\u0a1a \u0a09\u0a2a\u0a32\u0a2c\u0a27 \u0a28\u0a39\u0a40\u0a02 \u0a39\u0a48\u0964 <a href=\"https:\/\/newsmakhani.com\/en\/\">\u0a15\u0a3f\u0a30\u0a2a\u0a3e \u0a15\u0a30\u0a15\u0a47 \u0a07\u0a71\u0a25\u0a47 \u0a26\u0a47\u0a16\u0a4b\u0964<\/a><\/p><p><\/p>\n<div class=\"container\">\n<div class=\"innner-page-main-about-us-content-right-part\">\n<div class=\"text-center\">\n<h2>Income Tax Department conducts searches in Hyderabad<\/h2>\n<p>March 1st<\/p>\n<\/div>\n<p>The Income Tax Department carried out search &amp; seizure operations on 24.02.2021 on a major Pharmaceutical group based out of Hyderabad.\u00a0 This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations.\u00a0 Majority of the total manufactured products are exported to various countries i.e. USA \/ Europe.\u00a0 The search operation was carried out at about 20 locations in 5 States.<\/p>\n<p>Searches have resulted in seizure of cash amounting to Rs. 1.66 crore. During the search action incriminating evidence in the form of digital media, pen drives, documents, etc. have been found and seized. Incriminating digital evidences were gathered from SAP @ ERP software maintained by the assessee group.<\/p>\n<p>During these searches, issues relating to purchases made from bogus and non-existent entities, artificial inflation of certain heads of expenditure, alongwith suppression of receipts relating to by-product sale were detected.\u00a0 Further, evidence of on-money payment for purchase of lands was also found.\u00a0 Multiple other legal issues were also identified such as personal expenses being booked in the company\u2019s books and land purchased by related concerns \/ individuals below govt. SRO value.<\/p>\n<p>The search has led to unearthing of evidence relating to unaccounted income of around Rs. 400 crore out of which the assessee group has admitted an additional income of Rs. 350 crore.<\/p>\n<p>Further investigations are in progress.<\/p>\n<\/div>\n<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>\u0a2e\u0a3e\u0a2b\u0a3c \u0a15\u0a30\u0a28\u0a3e, \u0a07\u0a39 \u0a16\u0a2c\u0a30 \u0a24\u0a41\u0a39\u0a3e\u0a21\u0a40 \u0a2c\u0a47\u0a28\u0a24\u0a40 \u0a2d\u0a3e\u0a38\u0a3c\u0a3e \u0a35\u0a3f\u0a71\u0a1a \u0a09\u0a2a\u0a32\u0a2c\u0a27 \u0a28\u0a39\u0a40\u0a02 \u0a39\u0a48\u0964 \u0a15\u0a3f\u0a30\u0a2a\u0a3e \u0a15\u0a30\u0a15\u0a47 \u0a07\u0a71\u0a25\u0a47 \u0a26\u0a47\u0a16\u0a4b\u0964 Income Tax Department conducts searches in Hyderabad March 1st The Income Tax Department carried out search &amp; seizure operations on 24.02.2021 on a major Pharmaceutical group based out of Hyderabad.\u00a0 This Pharmaceutical group is engaged in the business of manufacturing [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":29448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[122],"tags":[15835],"class_list":["post-29447","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-income-tax-department-conducts-searches-in-hyderabad"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/posts\/29447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/comments?post=29447"}],"version-history":[{"count":0,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/posts\/29447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/media\/29448"}],"wp:attachment":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/media?parent=29447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/categories?post=29447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/tags?post=29447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}