Jagran correspondent, Purnia. Income Tax Department raids at various locations of Panorama Group have seized documents of cash transactions worth Rs 101 crore. This cash payment was made by four hundred people who had purchased houses and shops from the group. According to sources, now the Income Tax Department is preparing to take action against Panorama Group and also the persons who paid the cash in this case.
The four-day long raid of the Income Tax Department has been completed in Supaul, while the raid in Purnia is likely to be completed by late Friday night. During this period, the department also recovered cash worth about Rs 1 crore from the locations of Panorama Group.
According to the information, the raid started at around 5 am on January 10 and continued continuously. Income tax officials searched the company's bank accounts, old registers of land purchase and sale, investment related documents, laptop and digital data. Officials raided several places including the group's office, e-homes locations, school and hospital.
The joint team of Patna, Jharkhand and Bhagalpur was involved in this action of the Income Tax Department. The officials searched every nook and corner during the raid and conducted continuous checks in the entire premises. This raid created panic among the businessmen and local people of the district.
According to sources, the records of some schools and hospitals of Panorama Group have also been taken into possession by the Income Tax Department. Department officials said that in the case of cash payment, preparations are now being made to issue notices to the people associated with the group, as well as those who paid cash to buy a house or shop.
The Income Tax Department had started the review and investigation of this case since last year, and now after four days of continuous raids, in-depth information about the case has been obtained. Officials clarified that only those institutions and individuals who submit all transactions and documents correctly will get a favorable decision.
This action has sent a message of maintaining transparency in matters of property and financial transactions in the district. Officials say that this raid has been done to control any kind of black money transaction and now action will also be taken against those making cash payments. This raid by the Income Tax Department has become a topic of discussion in the entire area and local businessmen have seen it as a warning of strict financial monitoring.
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