Ex-BSP MLA's company surrenders Rs 100 crore undeclared income following IT raid

HMA group submitted Rs 100 crore in unreported income on Wednesday in response to an Income Tax raid that lasted for many days at the home and workplace of Zulfiqar Ahmed Bhutto's meat exporter company, a former BSP MLA from Agra.

Over 180 income tax officers, paramilitary forces, and other security professionals participated in the 88-hour-long operation at 35 locations scattered over 12 cities and 5 states in India.

This is the income tax department's second-largest recovery in Agra in recent years. A probe on the Agra-based BNR Group four years prior had turned almost Rs 101 crore in unreported income.

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According to a senior executive headquartered in Agra, the HMA group is India's third-largest meat exporter with over Rs 2000 crore in annual revenue and an export network spanning 40 nations.

12 cities, including Delhi, Mumbai, Raipur, Unnao, Kanpur, Ghaziabad, Meerut, and Chandigarh, were raided simultaneously by the I-T department. In Agra alone, 18 places were raided.

He claimed that all paperwork, laptops, and cell phones had been seized by the department for additional examination and that the penalty would be increased if it turned out that the undeclared income exceeded the amount that had been turned in.

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