I-T Dept raids medical professionals' premises in Assam

January 13,2021

The Income Tax Department has carried out search and survey action in cases involving renowned doctors and medical professionals of Assam.

The search and survey actions were carried out at 29 locations in Guwahati, Nalbari and Dibrugarh on January 8.

The main allegations against the groups are that they had grossly understated their medical receipts both in their individual capacities and the turnovers in their hospitals/nursing homes, diagnostic centres and pharmaceutical business, a Finance Ministry relese on the issue said on Wednesday.

During the course of the search and seizure operation, it was established that the groups were engaged in out-of-book transactions. Many documents and cash receipt slips were found which highlight the hugely suppressed turnover in the case of medical professionals and their hospitals/clinics.

The quantum of suppressed turnover detected in few cases alone appears to be upward of Rs 50-60 crore. Further, the net profit shown in the medical/pharma business is also extremely low, according to the release said.

Total cash of approximately Rs 7.54 crore was seized by the I-T Department from various residential and business premises of the medical professionals and their allied businesses, with an amount of Rs 1.76 crore cash seizure from a distant town of Nalbari.

The cash seized was found to be unexplained in the hands of various hospitals and medical professionals. Papers of huge parcels of land/immovable assets purchased in cash were also seized. Hand written notes/diaries of investments made in immovable assets in cash to the tune of around Rs 20 crore were also seized. The cash generated was found to be diverted to build new hospitals, reconstruction of nursing homes and acquisition of undisclosed assets.

During the course of the search operation, it was found that huge amount of 'kachha' cash receipts and transactions were made outside the regular books of accounts. In one such case, it was found that an amount close to Rs 20 crore was undisclosed.

Further, daily receipts were found to be digitally maintained in excel/hard disk at medical clinics that had not been recorded in the books of accounts. In the case of another assessee, the annual receipts were approximately to the tune of Rs 15-20 crore, while in the audited books, he had shown the gross receipt of around Rs 5 crore only. Hence, it is apparent that in the case of this particular assessee, suppression for each year should be around Rs 10-15 crore.

In all, unexplained investment/receipts/expenses exceeding Rs 100 crore has been unearthed during the search operation.