₹100-Crore Tax Evasion Uncovered in Kanpur: Luxury Cars and Cash Seized
In a sweeping crackdown on tax evasion, the income tax department has unearthed a staggering ₹100 crore worth of illicit financial activities linked to Banshidhar Tobacco Company and its affiliate firms. The revelation came to light during intensive raids conducted across Kanpur, Delhi, and Jhansi, spanning Thursday and Friday.
During the meticulously planned operations, authorities seized nearly ₹7 crore in cash along with a fleet of opulent vehicles believed to belong to Banshidhar Tobacco Company owner, KK Mishra. Among the seized vehicles were luxury icons including Lamborghini, McLaren, Ferrari, and Rolls Royce, collectively estimated at a jaw-dropping ₹60 crore.
The attention-grabbing raids have sent shockwaves through the region, with investigators delving deep into the financial records of Banshidhar Tobacco Company. Of particular interest is the origin of these high-end vehicles, prompting authorities to scrutinize whether they were acquired through anonymous channels or conveniently omitted from the company’s official financial records.
This latest revelation underscores a troubling trend of tax evasion and financial malfeasance gripping the region. Just within the past two years, similar crackdowns have exposed massive tax evasion schemes. Raids on the Ghana Ram Group previously unveiled tax evasion amounting to a staggering ₹800 crore, while a separate investigation in Kanpur in 2023 uncovered illicit activities worth ₹1500 crore linked to Radhey Shyam Purshottam Dass jewellers.
The scale of these illicit financial activities raises serious concerns about the integrity of the financial system and the extent of tax evasion prevalent in the region. The authorities remain resolute in their commitment to combat financial crimes and ensure that perpetrators are held accountable for their actions.
As the investigations unfold, the Banshidhar Tobacco Company finds itself at the center of a sprawling probe, with the full extent of its involvement in tax evasion yet to be determined. The repercussions of these revelations are poised to reverberate throughout the financial landscape, serving as a stark reminder of the vigilance required to safeguard against financial impropriety.
