Panama Papers: I-T sleuths raid 25 locations in Delhi-NCR

The department has so far recovered about Rs 4 crore cash and jewellery in addition to a number of documents, computer hard discs and CDs.

As part of the tax evasion probe into the Panama Papers leak cases, Income Tax (I-T) officials on Tuesday raided over 25 locations in Delhi and the National Capital Region.
 
Official sources revealed that I-T sleuths swooped down on three business groups, which had interests in metals and food processing, financial services and tyres, as per a PTI report.
 
The department has so far recovered about Rs 4 crore cash and jewellery in addition to a number of documents, computer hard discs and CDs, sources added.
 
CBDT recently said that the probe into the Panama Papers leak cases was on in "full swing", and it has so far led to the detection of undisclosed wealth of Rs 792 crore.
 
The International Consortium of Investigative Journalists (ICIJ) has published a searchable database that “strips trips away the secrecy of nearly 214,000 offshore entities created in 21 jurisdictions, from Nevada to Hong Kong and the British Virgin Islands”.
 
"The data, part of the Panama Papers investigation, is the largest ever release of information about offshore companies and the people behind them. This includes, when available, the names of the real owners of those opaque structures," the consortium said.
 
Source: PTI

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