Assam Income Tax Income Tax department raided various locations in Assam, Rs 7.54 crore seized
Guwahati: The Income Tax Department carried out search and survey action in the cases of renowned Doctors/Medical professionals of Assam led to the recovery of Rs 7.54 crore.
The search and survey actions were carried out at 29 locations in Guwahati, Nalbari and Dibrugarh in Assam on Jan 8.
The main allegations against the groups were that they had grossly understated their medical receipts both in their individual capacities and the turnovers in their hospitals/nursing homes, diagnostic centres and pharmaceutical business.
During the course of the search & seizure operation, it has been established that the groups engage in out-of-books transactions. Many documents and cash receipt slips were found which highlight the hugely suppressed turnover in the case of medical professionals and their hospitals/clinics.
The quantum of suppressed turnover detected in few cases alone appears to be upward of Rs 50-60 crore. Further, the net profit shown in the medical/pharma business is also extremely low.
An official of IT department said that, total cash of approximately Rs 7.54 crore was seized by the Department from various residential and business premises of the medical professionals and their allied business, with an amount of Rs 1.76 crore cash seizure from a distant town of Nalbari in Assam.
The cash seized was found to be unexplained in the hands of various hospitals and medical professionals. Papers of huge parcels of land/immovable assets purchased in cash were also seized. Hand written notes/diaries of investments made in immovable assets in cash of around Rs 20 crore were also seized.
The cash generated was found to be diverted in building of new hospitals, reconstruction of nursing homes and acquisition of undisclosed assets.
During the course of the search action, it was found that huge amount of Kachha Cash receipts and transaction were made outside the regular books of accounts, In one such case, it was found that an amount close to Rs 20 crore was undisclosed.
(Reporting by Hemanta Kumar Nath)
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