Delhi:- Income Tax (I-T) department on Tuesday conducted searches at over 25 locations in Delhi and the National Capital region in connection with its tax evasion probe into the Panama Papers leak cases, official sources said. They added that teams swooped down on three business groups, which had interests in metals and food processing, financial services and types .
Department had recovered about Rs 4 crore cash and jewelry during the ongoing searches in Delhi, Ghaziabad and Faridabad till now, adding that a number of documents, computer hard discs and CDs were seized. Central Board of Direct Taxes (CBDT), which frames the policies of the IT department, had recently said that the probe into the Panama Papers leak cases had led to the detection of undisclosed wealth of Rs 792 crore and that the probe was on in “full swing”.
Over a year after the Washington-based International Consortium of Investigative Journalists (ICIJ) made the documents public, the CBDT had said it had found 147 of a total of 426 cases “actionable”.
Source:- Hindustan Times