Tax evasion caught in IT raid on laptop-mobile company

New delhi date. 13
The income tax department has cracked down on a large-scale invoice and tax evasion case under the import of a laptop company. This information was given by the Central Board of Direct Taxes (CBDT), the policy-making body for the income tax department.
The department said the department had recently raided a laptop and mobile phone dealer there. Almost the entire business was run this way, the CBDT said. The department said that during the investigation, the sender of foreign goods was paid the bills through hawala. Cash worth Rs 3.5 crore was seized during the raid. According to the CBDT, raids were carried out on October 10 in several areas of Haryana and West Bengal, including Delhi-NCR.
The CBDT said a container parked at the Kolkata port was searched. Meanwhile, a bill for HDMI cable was found, valued at Rs 4.5 lakh. However, de-sealing and searching revealed that the imported goods were high value items like laptops, mobile phones, etc., valued at Rs 3 crore. Tax officials said the company imported low-value goods through counterfeit companies. The probe also found that the group had shown imports of only Rs 20 crore in three years against a massive import, while the value of imports during this period was Rs. 4,000 crore.