The Centre on Saturday said the Investigation Wing of Income Tax Department of North East Region (NER) carried out searches on certain businessmen in Meghalaya found to be involved in running a web of petrol pumps managed and controlled as benami properties.
"In a swift and coordinated action on Friday, August 2, 2019 the Investigation Wing of Income Tax Department, NER carried out searches on certain businessmen in Meghalaya," the finance ministry said in a statement.
These persons were depriving the state government of legitimate revenue by suppressing sales and non-deposit of local taxes collected, while also indulging in massive evasion of income tax by misusing exemption under Section 10(26) of the Income Tax Act, 1961 meant for tribal persons, it said.
In the enforcement operation that commenced in the early hours and went on till wee hours of the next day, more than Rs 2 crore of unaccounted cash along with incriminating documents have been seized by officials of the ...
