In the searches, incriminating documents were seized that show large-scale tax evasion and money laundering. Some documents have also led to the detection of the use of bogus companies. (Image used for representation).(HT PHOTO.)
In the searches, incriminating documents were seized that show large-scale tax evasion and money laundering. Some documents have also led to the detection of the use of bogus companies. (Image used for representation).(HT PHOTO.)

I-T searches on civil contractors in Mumbai reveal Rs 735 crore irregularities

The I-T department has come across irregularities involving Rs 735 crore. Among the contractors, two were blacklisted by the BMC in 2017 after a probe into the Rs 350-crore road scam found them to blame for shoddy and substandard work.
Hindustan Times, Mumbai | By HT Correspondent
UPDATED ON NOV 15, 2019 05:37 AM IST

The income tax (I-T) department on Thursday revealed details of searches they carried out on November 6 at 37 properties of civil contractors in Mumbai and Surat. Many of these contractors have worked with the Brihanmumbai Municipal Corporation (BMC).

In the searches, incriminating documents were seized that show large-scale tax evasion and money laundering. Some documents have also led to the detection of the use of bogus companies.

The I-T department has come across irregularities involving Rs 735 crore. Among the contractors, two were blacklisted by the BMC in 2017 after a probe into the Rs 350-crore road scam found them to blame for shoddy and substandard work.

“Incriminating evidence showing large-scale tax evasion and money laundering has been found. It has also led to the detection of the use of bogus companies [floated by entry providers] for giving entries to businesses in the form of loans or bills for expenses, etc,” the I-T statement, released on Thursday, said.

SHARE THIS ARTICLE ON
Close
SHARE
Story Saved
OPEN APP