Northeast India’s Only English and Hindi Satellite News Channel

Income Tax Dept conducts searches in Assam, Rs 7.54 cr seized from premises of medical professionals

First Published: 12th January, 2021 21:32 IST

The Income Tax Department carried out search and survey action on January 8 in the cases of renowned Doctors/Medical professionals of Assam. The search and survey actions were carried out

The Income Tax Department carried out search and survey action on January 8 in the cases of renowned Doctors/Medical professionals of Assam. The search and survey actions were carried out at 29 locations in Guwahati, Nalbari, and Dibrugarh, said Ministry of Finance.

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 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 businesses.

During the course of the search and seizure operation, it has been established that the groups engage in out-of-book 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.

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. Handwritten 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 the building of new hospitals, reconstruction of nursing homes and acquisition of undisclosed assets.

During the course of the search action, it was found that a 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.

Further, daily receipts were found to be digitally maintained in Excel/hard disk at Medical clinics that had not been recorded in the books of accounts. In the case of another assessee, the annual receipts were approximately Rs. 15-20 crore, while in the audited books, he had shown the gross receipt of around Rs.5 crore only. Hence, it is apparent that in the case of this particular assessee, suppression for each year should be around Rs.10-15 crore.

In all, unexplained investment/receipts/expenses exceeding Rs 100 crore has been unearthed due to the search & seizure action. Further investigations are underway. (ANI)

COMMENTS

WE RECOMMEND

Banner
PM Modi inaugurates, dedicates to nation and lays foundation stone for multiple development projects worth more than Rs 17,500 crores in Assam

The development projects of today encompass the sectors of health, oil and gas, rail and housing.

09th March 2024
Banner
PM visits Kaziranga National Park, feeds elephants, clicks pictures

PM Modi also shared glimpses of him feeding sugar cane to Lakhimai, Pradyumna and Phoolmai elephants.

09th March 2024
Banner
PM Modi on maiden visit to Kaziranga National Park, enjoys 80 minute safari

The Prime Minister will dedicate the tunnel to the nation at a function to be held at Baisakhi in West Kameng district.

09th March 2024
Banner
Rakul Preet-Jackky Bhagnani keen to sign Assamese films

The newly weds are in Guwahati. Earlier in the morning today they visited Kamakhya temple and paid their obeisance to Goddess Kamakhya

07th March 2024
Banner
PM Modi’s visit to Kaziranga National Park on Mar 9: History to be created

PM Modi will become the first Prime Minister to visit Kaziranga ever since it was upgraded to a national park from a sanctuary in 1974

07th March 2024