Tag: benami transactions

Following the raids in Uttar Pradesh and Karnataka on people associated with the Samajwadi Party, the Income Tax Department has unearthed fraudulent transactions and forgery of shares worth crores. The Income Tax Department has mentioned that black money of 154 crores has been detected, while there is no account of transactions of 150 crores. The Central Board of Direct Taxes said that the undisclosed earnings of more than Rs 86 crore of Directors of a company linked to Samajwadi Party are detected. One person confessed that he own black money of Rs 68 crore and also offered to pay tax on it. In the raids by the Income Tax Department, many incriminating documents and digital data were also recovered. During this, empty bill books, stamps, signed checks to be given in lieu of fake suppl...