Lucknow, Oct. 17 -- A major tax evasion racket has been uncovered in Sambhal, Uttar Pradesh, involving the promoters of Indian Frozen Food, a meat trading company.
During a recent probe, Income Tax Department officials found that the company had set up multiple fake firms under the names of its employees to carry out extensive tax evasion, sources confirmed today.
According to sources, at least a dozen fake companies were identified, through which significant financial irregularities were carried out. Large sums of money were withdrawn in cash from the bank accounts of these shell companies, with no proper documentation of the expenditures.
It is alleged that the illicit earnings were used to purchase valuable properties in Sambhal, incl...