News Desk, AnyTV, New Delhi
Published by: Shiv Sharan Shukla
Updated Thu, 24 Feb 2022 09:36 PM IST
Summary
Income Tax Department raided a Mumbai-based business group engaged in online cricket betting and gaming. The Central Board of Direct Taxes informed that on February 15, raids were conducted at 29 places in Mumbai, Delhi, Surat, Jaipur, Pune and Kolkata.
Income Tax Department raided a Mumbai-based business group engaged in online cricket betting and gaming. According to the Central Board of Direct Taxes, preliminary investigation has revealed a cash turnover of over Rs 600 crore in the last six months. The CBDT said that on February 15, raids were conducted at 29 places in Mumbai, Delhi, Surat, Jaipur, Pune and Kolkata.
The Central Board of Direct Taxes (CBDT) in its statement said that the group was operating in a clandestine manner and had concealed its income from law enforcement agencies. The CBDT said that so far over Rs 550 crore of listed securities and 30 bank accounts have been provisionally attached. Along with foreign currency, cash worth Rs 3.08 crore and jewelery worth Rs 81 lakh have also been seized.
The CBDT said that the unidentified group operates from Mumbai. It has a wide network of agents and area managers in different cities who use websites hosted on cloud servers by private operators.
The Central Board of Direct Taxes said in its statement that during searches it was found that after allotting IDs and passwords to customers, agents or area managers collect cash from them and deposit points in their accounts. The cash is then sent to Mumbai through hawala operators. The CBDT said that several documents and data have been recovered during the operation. It has all the information related to daily cash transactions.
Expansion
Income Tax Department raided a Mumbai-based business group engaged in online cricket betting and gaming. According to the Central Board of Direct Taxes, preliminary investigation has revealed a cash turnover of over Rs 600 crore in the last six months. The CBDT said that on February 15, raids were conducted at 29 places in Mumbai, Delhi, Surat, Jaipur, Pune and Kolkata.
The Central Board of Direct Taxes (CBDT) in its statement said that the group was operating in a clandestine manner and had concealed its income from law enforcement agencies. The CBDT said that so far over Rs 550 crore of listed securities and 30 bank accounts have been provisionally attached. Along with foreign currency, cash worth Rs 3.08 crore and jewelery worth Rs 81 lakh have also been seized.
The CBDT said that the unidentified group operates from Mumbai. It has a wide network of agents and area managers in different cities who use websites hosted on cloud servers by private operators.
The Central Board of Direct Taxes said in its statement that during searches it was found that after allotting IDs and passwords to customers, agents or area managers collect cash from them and deposit points in their accounts. The cash is then sent to Mumbai through hawala operators. The CBDT said that several documents and data have been recovered during the operation. It has all the information related to daily cash transactions.