K K Mishra’s Tobacco company: Lamborghini, Rolls Royce,Diamonds Rado seized after Income Tax raid on Bansidhar Tobacco Pvt Ltd

k k mishra asset

Income tax raids have been going on since February 28 at the house of tobacco businessman KK Mishra in Kanpur, Uttar Pradesh.

Why did Income Tax raid Bansidhar Tobacco Private Limited?

KK Mishra’s company, Bansidhar Tobacco Pvt Ltd had been evading tax for years by under-reporting its turnover and giving wrong details of assets. KK Mishra had shown the annual turnover of his company to be Rs 20 to 25 crore. But investigation revealed that their turnover is around Rs 150 crore. Bansidhar Group was on the income tax radar after the IT department received information about tax evasion a year ago.

What was found in the income tax raid?

some luxury cars worth Rs 70 crore, 4.5 crore cases, jewelry worth Rs 2.5 crore, 5 diamond watches worth Rs 12.5 crore, and documents of Benami properties. In three days and five states, Uttar Pradesh, Delhi, Mumbai, Gujarat, and Andhra Pradesh, Income Tax found this at the company branch’s An investigation is still going on. The company used to do business of Rs 25 crore legally and did the rest through fake bills, raw entries, fake checks, and fake companies. Income tax also sees the possibility of money laundering in this case.

Who started the Bansidhar Tobacco Private Limited company?

This business was started by KK Mishra’s father, Banshidhar. Banshidhar started his business in 1931 with a small shop. After independence the business expanded to Kanpur, after which they set up their head office in Delhi. Earlier this company used to sell whole tobacco leaves and later the work of tobacco packing started. The Mishra family has been associated with this business for 99 years. This company supplies tobacco to big pan masala groups like Kamla Pasand and many others

Who is next in this case?

income tax departmnet

There are some other big gutkha companies, they are also on the radar of Income Tax because they have purchased goods on raw bill from Bansidhar Group like Kamla Pasand, Bimal, Sikhar, etc.

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