Income Tax Department investigates Mahavir Coal Washeries Pvt. Ltd. for potential financial irregularities and tax discrepancies.
Multiple firms linked to company directors under scrutiny following months of financial tracking.
By : Akshay Lahre
Bilaspur/Raipur । In a targeted action to ensure tax compliance and detect revenue leakages, the Income Tax Department’s Bilaspur Range initiated a survey operation at Mahavir Coal Washeries Private Limited (MCWPL), a company engaged in coal mining and processing. The probe, carried out under Section 133(A)(1) of the Income Tax Act, commenced on Thursday at 1 PM, covering the firm’s office in Vyapaar Vihar, Bilaspur, and its operational site in Village Bhelai, Janjgir district.
The operation was conducted under the oversight of Chief Commissioner of Income Tax (CCIT) Aparna Karan and Principal Commissioner of Income Tax (PCIT) Pradeep Hedau, with a 32-member enforcement team, including 26 tax investigators and six armed police personnel, deployed to ensure seamless execution.
“This action is the culmination of months of rigorous financial surveillance,” confided a well-placed official in the Income Tax Department’s Assessment Wing, privy to ongoing operations. “Unverified expenditures, inconsistent revenue disclosures, and irregular transactions prompted the need for a deeper financial audit.”
Mahavir Coal Washeries Pvt. Ltd., registered in Nagpur, Maharashtra, is directed by Vishal Kumar Jain, Vikash Kumar Jain, Richa Pahwa, Vinod Kumar Jain, Vikash Jain, and Arvind Kumar Jain. However, as investigators pored over financial records, the probe expanded beyond the company, drawing attention to multiple businesses linked to its directors.
“Our analysis suggests a broader network of financial interactions across associated companies,” the source stated. “There are concerns regarding inter-company transactions, income shifting, and questionable expenditure claims that warrant further investigation.”
Among the corporate entities now facing scrutiny are Mahavir Washeries & Power Private Limited, Black Panther Processing Private Limited, Imaec Medntek Limited, Rama Cement Industries Private Limited, Imaec Steel Limited, and Inspire Coal Washeries Private Limited. Officials are meticulously examining business dealings, fund movements, and possible revenue misstatements across these firms.
“We are closely analysing structured financial activities across these businesses,” an official revealed. “The aim is to determine if these entities were strategically leveraged to underreport earnings, inflate expenses, or evade tax liabilities.”
The Income Tax Department’s focus remains on detecting tax suppression, exaggerated deductions, and undisclosed financial gains. Authorities are reviewing recent financial reports, tracking profit declarations, and assessing net worth fluctuations to establish if they align with tax obligations.
“This survey is part of an expanded effort to plug revenue leakages,” confirmed tax officials directly involved in the operation. “We are conducting a meticulous audit of financial transactions, evaluating inter-company dealings, and examining discrepancies in tax declarations.”
“The investigation is still ongoing, and we are carefully scrutinising financial records, digital documents, and business transactions to determine the full extent of potential tax violations,” the officials added.
