Published On : Wed, Jan 20th, 2016

LBT swoop at M/s Tectonics for suspected tax evasion in lakhs

Nagpur: Local Body Tax (LBT) Department on Tuesday burst into a firm M/s Tectonics, located at P-8, Raghavendra Apartment, Laxminagar, and initiated search and seizure action for suspected evasion of the tax in lakhs. The firm deals in surgical instruments. The registered office of M/s Tectonics under VAT is at 40, Verma Layout, Khadgaon Road, Wadi but there is no mention of Laxminagar office of the firm. The firm supplies surgical tools to various hospitals.

During the search and seizure operation, the LBT Department found stock of surgical instruments. The stock was brought to the Laxminagar office from the Wadi. Later, the stock is supplied to different hospitals in accordance with their demands. In the financial years 2013-14, 2014-15 and 2015-16 (till July 31, 2015), the firm M/s Tectonics made purchases of surgical tools to the tune of Rs 7.65 crore, Rs 5.50 crore and Rs 3 crore. With the figures of the purchases, the firm was required to pay LBT to the tune of Rs 32.50 lakh. However, the firm apparently defaulted the tax payment. The firm is deemed registered with LBT Department and has not submitted LBT Return for any financial year. The Department seized important documents such as purchase and sale transactions from the firm’s establishment. Department will verify the documents and data seized for fixing the actual LBT liability on M/s Tectonics.

The search and seizure action was conducted by Assistant LBT Commissioner Milind Meshram, Assistant Superintendent Rajesh Meshram; Inspectors Sanjay Dahikar, Narayan Wankhede and Assistants Jitendra Tomar, Shailendra Bharadwaj, Amir Hussain, Sanjay Moundekar, Someshwar Parate, Mankar, and Sonekar. The action was initiated under the directives of Municipal Commissioner and Additional Deputy Municipal Commissioner.