IT survey on 83 locations of Uflex continues even today, allegations of tax evasion and rigging of Rs 187 crore


Noida: Within the case of tax evasion, the raids of the Revenue Tax Division continued on Thursday at 83 places throughout the nation of industrialist Ashok Chaturvedi’s firm Uflex Group. Revenue Tax Division officers stated that the corporate’s accounts have been being monitored for a very long time, by which raids have been carried out after affirmation of tax evasion and rigging. To date, tax evasion and tax evasion of about Rs 187 crore has been detected within the accounts of the corporate within the packaging sector, whereas suspicious paperwork of transactions value greater than Rs 100 crore have been recovered. Within the investigation, money value Rs 1.5 crore was recovered from places in Noida and Delhi and a number of other financial institution lockers have been seized.

20 financial institution accounts used for tax evasion

Revenue Tax Division officers instructed that 20 such financial institution accounts have been utilized by the Uflex firm for earnings tax evasion, which belong to folks of very low earnings group. Rs 50-50 crore was transferred to their accounts. Based mostly on the paperwork obtained to this point, the investigation crew is estimating tax evasion of about Rs 500 crore. The scope of the probe has been widened and 5 extra locations have been included within the raids on Wednesday.

600 groups of earnings tax division engaged in raid

In response to the report of the information company Bhasha, the Revenue Tax Division is conducting raids at 83 locations throughout the nation together with 32 locations in Noida. Together with 600 groups within the Nationwide Capital Area (NCR), 150 groups are moreover conducting checks at varied locations within the nation. The investigation crew has to this point caught 10 cell corporations, by means of which faux switch of funds was executed. These 10 overseas corporations of Uflex are additionally on the radar by which cash has been transferred.

IT’s packaging firm raided 64 places of Uflex, was sending cash to China by means of hawala and cryptoIncome tax raid continues from Tuesday

The Revenue Tax Division’s investigation crew raided the premises related to the corporate and the residential premises of the officers at round 5 am on Tuesday. Raids have been carried out at six extra places in Noida, Delhi, Haridwar and Gwalior on Wednesday. Officers stated that on the idea of recovered paperwork, the scope of investigation is constantly rising. Official sources of the division stated that Rs 1.5 crore money has been recovered through the ongoing investigation at totally different places in Noida and Delhi. The corporate within the packaging and container sector manufactures packets of Pan Masala.

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