I-T Department hits at terror financing activities in J&K Region

Speed Post News Network

New Delhi : The head of a prominent organisation allegedly indulging in anti-national activities along with his associates were covered in a sensitive search action by the Income -Tax (I-T) Department on February 27, 2019. Search was conducted on 4 premises in the Valley and 3 in the national capital. The search action yielded credible evidence of largescale undisclosed financial transactions carried out in the business of quarrying, hotels etc.

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. Despite carrying out largescale financial transactions, neither the main protagonist 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 willful attempt to evade tax.

During the search action, 3 hard discs were also 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, according to a PIB release.