In surveys conducted at three places, two in Bhopal and one in Gwalior, the Income Tax department has unearthed tax evasion of a little over Rs 50 crore. The surveys were carried out against Shri Maa Group and Shapers Construction in the Govindpura area of Bhopal and Parivar Group Hospital, Gwalior, on February 12, under Section 133 A of the Income Tax Act.
The Shri Maa Group is in wholesale distribution of mobiles, carbon credits, manufacturing of almirahs, trading in plastic granules, trading in white goods, and selling mobile charge vouchers, mainly for Madhya Pradesh. As a wholesale distributor, the assessee purchased bulk items directly from the manufacturer and sold them to local dealers. They, however, failed to explain expenses claimed in the book of accounts.
Accordingly, an additional total income of Rs 6.20 crore was surrendered in the group of companies i.e.; Shri Maa Marketing Private Limited, Polyshri Private Limited, Polyshri Private Limited, and Oyu Green Private Limited. The assessee has committed to pay an additional tax on surrendered income before due time. Likewise, the I-T department surveyed Shapers Construction Limited in Punjabi Bagh of Govindpura. The group is in the business of government contracts, sand, stone mining etc.
The survey revealed sundry creditors of Rs 7,26,81,332 outstanding for a long period in case of Shapers Construction Limited and Rockbed Renovations Limited. When assessee was asked to explain the long pendency, it admitted that the sundry creditors were ceased liability and therefore, offered them as income under head of ‘Sundry Creditors Written Off’. In addition to the above, various discrepancies were noticed about expenses incurred by Shapers Construction Limited which the taxpayer couldn’t explain.
Accordingly, an additional income of Rs 7,79,19,734 was admitted as unverifiable expenses. Thus, this survey led to a disclosure of an additional income of Rs 15,06,01,066. The assessee has committed to pay the additional tax on surrendered Income.
Survey against Gwalior hospital
The I-T department also surveyed a group running in the name of Parivar Super Speciality Hospital, one of the largest private super specialty hospitals in Gwalior. Six premises, including pharmacy and diagnostic centers, were covered under the survey. It was found that a huge amount of unaccounted cash receipts and transactions were made outside the account books. Unexplained and undisclosed receipts and expenses of the entire group exceeding Rs 30 crore were unearthed.
