Alerts

Income Tax Department strikes again in J&K Region

 Income Tax Department conducted search and seizure operations today on a prominent business group based in Srinagar, covering 8 premises in Srinagar and 1 each at Bangalore and Delhi. The assessee group is engaged in the business of transportation, manufacturing of silk yarn, hospitality, retail trading of Kashmir Arts & Crafts etc.None of the members of the group is regular in filing their Income Tax Returns. During the search, evidence has been detected indicating that the one time settlement of the loan from J&K Bank has been done through the active connivance of a senior J&K Bank officer who was receiving several out of turn promotions. Furthermore, evidence has also been unearthed indicating that the repayment of Rs 50.34 crores pertaining to the said loan has been greenfielded by the J&K Bank by granting loan of similar amount to an associate who has confessed to his role in layering the entire transaction...........

 

Please or to Read More Entire Article

Related Tags

Article by Same Author

In case you come across any suspicious activity, any suspicious movement or have any information to tell to the Anti-Terror Squad, please take a note of the new ALL INDIA TOLL-FREE Terror Help-line '1090'. Your city's Police or Anti-Terror squad will take action as quickly as possible. Remember that this single number 1090 is valid all over india. This is a toll free number and can be dialled from mobile phones also. Moreover, the identity of the caller will be kept a secret.

Please try to make aware each and every citizen of india about this facility.

Helpline 1090
ADD TO:
Blink
Del.icio.us
Digg
Furl
Google
Simpy
Spurl
Y! MyWeb
Twitter