The Department also discovered cash, jewellery and silver items as part of a haul worth more than US$10 million.
India’s Income Tax Department has uncovered a case of tax evasion centred around selling human hair.
A north Karnataka-based exporter allegedly made an undisclosed income of Rs65 crore (US$10.25 million) by exporting human hair, which was offered by devotees in temples and cut in salons, to countries across Africa and Europe.
According to MoneyControl, the department also seized Rs2.5 crore (US$394,250) in cash, jewellery worth Rs2.5 crore (US$394,250) and 140kg of silver articles during raids at the residence and office of the unidentified exporter.
The department likewise seized "incriminating evidences of tax evasion that has been going on for many years and it was found that second quality sales and wastage sales are not accounted and declared in the ITRs (Income Tax Returns), apart from bogus billing of purchases to siphon off money into huge investments".
The same Bengaluru investigative team, which recently cracked down on medical centres and doctors in Karnataka, detected an undisclosed income of Rs100 crore (US$15.7 million) after searches at several IVF clinics and diagnostic centres.
The Department also discovered cash, jewellery and silver items as part of a haul worth more than US$10 million.
India’s Income Tax Department has uncovered a case of tax evasion centred around selling human hair.
A north Karnataka-based exporter allegedly made an undisclosed income of Rs65 crore (US$10.25 million) by exporting human hair, which was offered by devotees in temples and cut in salons, to countries across Africa and Europe.
According to MoneyControl, the department also seized Rs2.5 crore (US$394,250) in cash, jewellery worth Rs2.5 crore (US$394,250) and 140kg of silver articles during raids at the residence and office of the unidentified exporter.
The department likewise seized "incriminating evidences of tax evasion that has been going on for many years and it was found that second quality sales and wastage sales are not accounted and declared in the ITRs (Income Tax Returns), apart from bogus billing of purchases to siphon off money into huge investments".
The same Bengaluru investigative team, which recently cracked down on medical centres and doctors in Karnataka, detected an undisclosed income of Rs100 crore (US$15.7 million) after searches at several IVF clinics and diagnostic centres.
