IT Department Raids SN Mohanty Group Over Alleged Multi-Crore Tax Evasion
The Income Tax (IT) Department conducted simultaneous raids on multiple locations connected to the SN Mohanty Group, a prominent mining company, over allegations of multi-crore tax evasion.
Key Details of the Raids:
- Locations
The raids targeted:- Offices in Barbil and Joda in Keonjhar.
- The company’s corporate headquarters and the residence of MD Prabodh Mohanty in Forest Park, Bhubaneswar.
- A bauxite mine owned by the company.
- An associate office in Kolkata, with investigations extending to other areas in West Bengal.
- Execution
The IT Department deployed six teams to carry out the operations.- During the searches, authorities seized significant documents and cash.
- Questioning
Investigators are questioning the company’s Managing Director (MD) and senior officials to gather details about the alleged tax irregularities.
Allegations and Findings:
While the exact amount of tax evasion remains undisclosed, sources suggest the case involves a multi-crore scam.
- This operation is part of a broader government crackdown on tax evasion within the mining sector, which has faced increasing scrutiny for irregularities.
Company’s Response:
The SN Mohanty Group has yet to release an official statement regarding the raids.
- Nevertheless, the situation highlights the government’s intensified efforts to enforce tax compliance in high-revenue sectors like mining.
Conclusion:
The investigation is ongoing, and further updates are anticipated as authorities continue to examine the evidence. This case reinforces the government’s commitment to addressing financial misconduct and ensuring accountability across industries.
