Ernakulam : The income tax department has been conducting raids across the state at various business centres including a used-car showroom and a coaching centre following which the department has unearthed black money to the tune of Rs 102 crores .
The fraud was unearthed by the investigation department of the Kozhikode Division of the Income Tax Department in the company ‘Royal Drive,’ owned by Mujeeb Rahman, a resident of Malappuram. Following the discovery of these black money transactions, the Income Tax Department has decided to send notices to national-level celebrities in the fields of cinema and sports suspected to be involved.
Meanwhile, raids were also conducted at the offices of ‘Xylem learning App’, a leading coaching centre in Kerala following reports of tax evasions being made at these centres. The IT department officials conducted the raids at its five offices simultaneously. However, the IT department sleuths did not reveal the details of the tax evasions and other shady transactions.
“We cannot reveal details of the tax evasions being made. However, we have clear evidence on tax evasions of large amount of money in various centres in Kerala. We will be able to give the full estimate of the amount in two days”, said a senior IT department official to News9.
He added that the senior management members will be questioned in the coming days.
Meanwhile the raids conducted at the various centres of the ‘Royal Drive’ showroom ended on Wednesday morning. The investigative section of the IT department in Kozhikode unearthed the Rs 102 crore worth black money transactions. After it found that few leading celebrities and a cricketer was involved, notices were sent to the concerned individuals seeking their explanation on the transactions. However, further details were not revealed as the probe is still underway.
The raids were carried out for over two days in the Thiruvananthapuram, Ernakulam, Malappuram, and Kozhikode branches of the car showroom. Suspicion had been raised regarding the transactions of large sums of money over the past few months. It was found that famous celebrities bought luxury cars, used them for a year or two, and then sold them to Royal Drive without recording the transactions in their accounts. Additionally, it was found that cars were bought from the showroom, with the price paid in black money.
The income tax department has been conducting raids across the state at various business centers including a used-car showroom and a coaching center following which the department has unearthed black money to the tune of Rs 102 crores . Kerala States News India: Top News India, States News, States News Headlines, Online State News India, State Politics news
