IT dept searches various businesses in Bengaluru

BENGALURU: Income Tax Department officials simultaneously raided various business places, including Chickpet, Avenue Road, BVK Iyengar Road, JC Road and SP Road and uncovered a massive tax‑evasion racket.

It was found that goods were purchased without tax bills, more goods were purchased than the purchase bills as regards electronic items, vehicle spare parts, gift items dried fruit, and other commodities, and goods were sold without generating tax bills.

Tax evasion was also detected among iron, steel, hardware and cement traders, who were selling goods without raising invoices. Through this, contractors are being assisted in claiming investment tax benefits.

Furthermore, transactions exceeding Rs 40 lakh were found to be unregistered under GST. About 1,000 bags of gutka and pan masala were being transported without proper documentation. At Yeshwantpur railway station, 75 vehicles carrying iron scrap were seized as they they lacked proper tax invoices.

In all, more than 500 inspections were carried out within 15 days, revealing unaccounted transactions worth Rs 100 crore. Legal action is being taken against the offending traders, and the investigation is ongoing.