Income Tax Raid on Kanpur Gutka Tycoon; Cash, Luxury Watches Seized
In a significant crackdown on alleged tax evasion, Income Tax officials conducted extensive raids spanning over five days on the properties of Kanpur-based tobacco magnate KK Mishra, unraveling a web of opulence and financial irregularities. The raids, which encompassed locations in Kanpur, Delhi, Ahmedabad, and Andhra Pradesh, culminated in the seizure of substantial amounts of unaccounted cash, jewelry, and luxury items.
At the conclusion of the five-day operation on Tuesday, authorities disclosed the confiscation of unreported cash and jewelry valued at Rs 7.5 crore, along with luxury watches estimated at Rs 5 to 6 crore from Mishra’s Delhi properties. The raids, spearheaded by the Income Tax Department, aimed to scrutinize Mishra’s financial transactions and holdings, which reportedly included Banshidhar Tobacco Company, a prominent player in the tobacco industry.
However, the interrogation process hit roadblocks as Mishra, citing recent liver transplant surgery, evaded questioning on grounds of ill health. Despite his health concerns, tax officials intensified their scrutiny into Mishra’s financial affairs, suspecting widespread tax evasion and discrepancies in reported turnovers.
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