News Update

OPEC+ concurs to reduce production by 2 mn barrels per dayPoverty eradication by 2030 is now beyond reach: World BankSpeeding truck runs over 5 in JharkhandNobel Prize in chemistry goes to three scientists known for ‘click chemistry’ - Morten Meldal, Barry Sharpless & Carolyn BertozziRescinding a dead notificationPM says AIIMS Bilaspur to be known as ‘Green AIIMS’Quake measuring 5.4 rocks Iran; Over 500 injuredGovt greenlights FM Radio to expand to smaller cities25 die as wedding party bus plunges into Uttarakhand valleyGovt to erect 25K mobile towers in next 500 days: VaishnawDark nights descend as Bangladesh national grid goes to sleepEU Parliament votes in favour of common charging cable for all new portable devicesMicron pledges USD 100 bn to set up chip factory in New YorkMusk takes U-turn; revives Twitter deal at original priceUK selects 4 women out of 4000 applications to ‘man’ remote, waterless outpost on Antarctica islandTo defy US pressure, Saudi Arabia & Russia decide on deep cut in crude production + EU on verge of capping Russian oil pricesUS Surgeon General Vivek Murthy nominated for WHO Executive BoardWomen-led anti-hijab movement percolates from streets to Iranian schoolsCCI okays Zee-Sony merger but with a string of conditionsCBI raids dozens of premises in operation against cyber fraudstersWCO, WTO release joint report on disruptive technologiesGST - Merely because certified copy was subsequently filed physically, said circumstance cannot be made basis to come to conclusion that appeal was filed beyond prescribed period: HCEC hints at new rules to make parties explain how they would bankroll tall promises made during pollsStrict Interpretation in Taxing Statutes - To what extent?MoF notifies 7.1% interest rate for GPF w.e.f Oct 1, 2022
 
Income Tax raids Healthcare Provider Groups in Haryana and Delhi

By TIOL News Service

NEW DELHI, AUG 03, 2022: THE Income Tax Department carried out search and seizure operations on 27.07.2022 on several groups engaged in the healthcare services by running hospitals. A total of 44 premises were covered during the search action in Delhi-NCR.

During the course of the search operation, huge incriminating physical and digital evidence has been seized.

The analysis of evidences revealed that the one of the groups was maintaining a parallel set of books of account, indicating systematic under-reporting of receipts received from patients in cash. The modus-operandi adopted by this group included removal of invoices or deflation of the invoice amount by marking them as "Discounts/Concessions" etc., at the time of discharge of patients from the hospital. This practice, resulting in evasion of income, is being followed across all the hospitals of the group and is spread over various years.

The other healthcare groups covered in the search operation have been found to be engaged in obtaining either bogus or inflated invoices for pharmaceutical drugs and/or  medical devices such as stents, leading not only to  suppression of actual profits, but also overcharging from the patients. The money trail found during the investigations has further corroborated the fact that the groups have been receiving back cash in lieu of payments made through banking channels for these bogus/inflated invoices. One of the hospitals of these groups was also found to be claiming wrong deduction over the years without fulfilling the necessary conditions for the hospital to be eligible as specified business.

The seized evidence has also revealed the practice of referral payment to doctors and clinics without duly recording these in the books of account. The referral payment has been fixed at a percentage of invoices raised to the patients. Evidences pertaining to transaction of benami nature have also been uncovered during the search action.

The search operation has led to the seizure of unexplained cash of over Rs.3.50 crore and jewellery valued at Rs. 10.00 crore. So far, the unaccounted income of all the groups detected in these operations, is estimated to be more than Rs. 150 crore. More than 30 bank lockers have been put under restraint.


POST YOUR COMMENTS