I-T dept unearths foreign exchange diversion of â¹1000 crore
The Income Tax Department on Friday unearthed siphoning of foreign exchange of approximately â¹1,000 crore. During the investigation, the department found that 12 shell companies were floated, out of which 10 of them are based in Kolkata. Money was reportedly transferred to Hong Kong, China and Singapore during April 2015-March 2017 for import of customised software.