What Led to the Seizure of Over Rs 1 Crore During I-T Raids on a Medical Equipment Trader in MP?
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Synopsis
The Income Tax Department has launched a significant operation against Science House Medical Private Limited, seizing over Rs 1 crore. The investigations reveal potential investments in foreign firms and connections to high-profile individuals. This unfolding drama raises questions about compliance in the medical supply industry.
Key Takeaways
- Income Tax raids resulted in the seizure of over Rs 1 crore.
- 30 bank lockers were uncovered during the investigations.
- Science House Medical has connections to foreign companies.
- Ongoing investigations may reveal more about local administrative ties.
- Transparency in the medical supply industry is under scrutiny.
Bhopal, Sep 3 (NationPress) The Income Tax Department officials have confiscated over Rs 1 crore during investigations at various offices and establishments affiliated with Science House Medical Private Limited.
Sources from the Income Tax Department revealed to IANS on Wednesday that in addition to uncovering 30 bank lockers, more than Rs one crore in cash was retrieved during the operation in Bhopal.
The department discovered that the firm has made investments in several foreign companies.
According to an anonymous I-T official, searches were still ongoing as of Wednesday.
Furthermore, the evaluation of cash, as well as gold and silver jewelry found across various sites in Bhopal, Indore, and Mumbai, is yet to be completed.
On Tuesday, the I-T Department executed searches at the residence of medical equipment trader Rajesh Gupta and his associates.
Simultaneously, raids were also conducted at residential and office locations in other parts of Bhopal, including Rachna Nagar and Lalghati.
Official sources reported that searches were also carried out at the premises of the trader's suppliers, identified as Jitendra Tiwari, Shailendra Tiwari, and Mohan Sharma.
One official noted that these locations are linked to individuals within the Science House Group.
Founded in 1994, Science House, based in Bhopal, has been a key supplier of medical equipment. Rajesh operates a medical and surgical equipment factory in Uganda, distributing medical devices nationwide while also offering diagnostic services.
Additionally, the company provides pathology lab services and operates a private hospital.
Currently, the Income Tax Department team is engaged in scrutinizing the documents.
I-T officials have reportedly interrogated Jitendra Tiwari, the company director, along with three associates: Rohit Gupta, a software engineer, Dinesh Barolia, and Shikha Rajoria.
There are also allegations suggesting that the trader maintained close ties with a senior IAS officer in the state through brokers; however, the officer's identity remains undisclosed.
Point of View
It's crucial to approach this developing story with a balanced mindset. The Income Tax Department's rigorous actions highlight the importance of transparency in business operations, especially within the medical supply industry. This case serves as a reminder that accountability is essential in maintaining public trust and ensuring ethical practices.
NationPress
03/09/2025
Frequently Asked Questions
What prompted the Income Tax raids on Science House Medical Private Limited?
The raids were initiated due to suspicions of tax evasion and unreported investments in foreign companies.
How much cash was seized during the I-T raids?
Over Rs 1 crore in cash was recovered during the raids.
Who is Rajesh Gupta in relation to the case?
Rajesh Gupta is the medical equipment trader whose residence was raided by the Income Tax Department.
What connections does Science House Medical have?
The firm has allegedly invested in foreign companies and maintains ties with local IAS officers.
Is the investigation ongoing?
Yes, the investigation is still active, with officials examining various documents and assets.
