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August 11, 2020

Chinese individuals involved in money laundering & hawala transactions of Rs 1000 Cr : CBDT

by facelesscompliance in Income Tax

Chinese individuals involved in money laundering & hawala transactions of Rs 1000 Cr : CBDT

Based on info that few Chinese individuals & their Indian associates were involved in money laundering & hawala transactions through series of shell entities, search action was mounted at various premises of these Chinese entities, their close confederates & bank employees: CBDT

Search action revealed that at the behest of Chinese individuals, more than 40 bank accounts were created in various dummy entities, entering into credits of more than Rs 1,000 crores over the period: CBDT

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