income tax raid (indicative picture) – Photo: Amar Ujala
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The Income Tax Department has caught undisclosed income of 60 crores in Rahman Industries Group. Cash worth Rs 60 lakh and jewelery worth Rs 60 lakh have also been recovered from the group’s establishments. They have been seized for not being able to show the documents. There is a huge difference between the profits and expenses of the company. The department has seized a large amount of documents. The directors of the company are ready to pay tax on undisclosed earnings.
Rahman Industries Group, one of the city’s biggest leather exporters, was raided by Income Tax teams on Wednesday. Apart from the bungalows of group director Nadeem Rahman, Kamran Rahman in Jajmau, bungalow and office in Phoolbagh, action was started in Unnao’s industrial area Banthar, tannery and office in Akrampur and Singrosi and 12 establishments in Noida. Apart from this, the establishment of Nafees Ahmed of Diamond Chemical, which supplies chemicals to the group, was also raided.
Sources reveal that large scale irregularities have been found in the account books of the group. Company operators have also invested more than hundred crores in countries of Europe and Africa. There are more than half a dozen companies in these countries. The group exports most of its products. The action may have been called off, but the investigation is on by seizing the documents. The countries where exports have been made, what were the rates there etc. are being investigated. Sources said that documents have also been seized from the locations of Nafees Ahmed. The rate and orders of chemical supply are being investigated.
The company dominated the leather export award In June, the Export Excellence Awards were announced by the Leather Export Council for two years. The dominance of Rahman Industries was seen in this. Awards were received in several categories. Rahman Industries was ranked second in the overall export category for 2019-20 and 2020-21. The group received the first award for 2019-20 in the leather footwear category above 100 crores and up to 200 crores. The group got the first prize in the same category for 2020-21. 2nd position for 2019-20 in the Finished Leather category above Rs.50 crore and up to Rs.100 crore.
Expansion
The Income Tax Department has caught undisclosed income of 60 crores in Rahman Industries Group. Cash worth Rs 60 lakh and jewelery worth Rs 60 lakh have also been recovered from the group’s establishments. They have been seized for not being able to show the documents. There is a huge difference between the profits and expenses of the company. The department has seized a large amount of documents. The directors of the company are ready to pay tax on undisclosed earnings.
Rahman Industries Group, one of the city’s biggest leather exporters, was raided by Income Tax teams on Wednesday. Apart from the bungalows of group director Nadeem Rahman, Kamran Rahman in Jajmau, bungalow and office in Phoolbagh, action was started in Unnao’s industrial area Banthar, tannery and office in Akrampur and Singrousi and 12 establishments in Noida. Apart from this, the establishment of Nafees Ahmed of Diamond Chemical, which supplies chemicals to the group, was also raided.
Ritika
