Income Tax Department hits at terror financing activities in J&K Region
28 February 2019
The Income Tax Department on Wednesday said it carried out "sensitive search" that covered the head of a prominent organisation in connection with alleged terror financing and anti-national activities.
Without providing specific details, the department said it unearthed clinching evidence of "huge unaccounted expenditure having been incurred in cash on the reconstruction and remodelling of the residential premises presently being used by the tax evader's family."
The I-T Department said the search covered the head of a prominent organisation along with his associates across four premises in the Valley and three in the national capital.
The search action yielded credible evidence of large scale undisclosed financial transactions carried out in the business of quarrying, hotels etc, the officials said.
“During the search, clinching evidence was also unearthed of huge unaccounted expenditure having been incurred in cash on the reconstruction and remodelling of the residential premises presently being used by the tax evader’s family,” it added.
Neither the individual nor any member of his family has ever filed any income tax return. The evidence found in search action is robust enough to show a deliberate and wilful attempt to evade tax.
In the search action, 3 hard discs have also been seized. The analysis of the information contained in the discs is likely to yield even more substantial evidence against the tax evader and his associates. This action is part of a concerted drive to trace illegal sources of funding that have financed the separatist elements and their activities in the Valley, the I-T Department stated in a release.