The Income Tax department has unearthed a Tax Evasion of 70 crores in consequent to raids conducted in 15 places in Kanpur and Unnao districts of Uttar Pradesh. Two prominent Companies owning tanneries and manufacturing leather goods are involved in the matter, a report said.
As per reports, after getting information of huge tax evasion, the I-T officers raided premises of Sultan Group of Campanies including Sultan Tanneries Private Limited, Sultan Overseas, and Model Tanners India Pvt Ltd, Model Exims Pvt Ltd.
Several incriminating documents were seized from their premises suggesting tax evasion, suspicious bank transactions, sale of leather goods without paying taxes, and documents related to unaccounted investments in properties, gold, shares and other companies.
The companies were under scanner for two months.
“Till now we have caught income Tax Evasion of more than Rs 70 crore. The figure may cross over Rs 100 crore when we open their lockers and study documents seized from their premises,” said a senior IT official.
