Income Tax Department conducts search operations in Mumbai #Income_Tax_Department initiated search and seizure operations in the case of a group, engaged in the manufacturing of wires and cables and other electrical items on 22.12.2023. Some of the authorised distributors of the group were also covered in the search. The search action was conducted at more than 50 premises located in Mumbai, Pune, Aurangabad, Nasik, Daman, Halol and Delhi. During the course of the search operation, a large number of incriminating evidences in the form of documents and digital data have been found & seized. These evidences reveal modus-operandi of tax evasion adopted by the group in connivance with some of the authorised distributors. Preliminary analysis suggests that the flagship company indulged in unaccounted cash sales, cash payments for unaccounted purchases, non-genuine transport and sub-contracting expenses, etc for suppression of its taxable income. Read more: https://newsplus21.com/income-tax-department-conducts-search-operations-in-mumbai/

Covid-19 Impact on Thermoplastic Polyurethane Market Pegged for Robust Expansion by 2028 The thermoplastic polyurethane market size was estimated at USD 2.6 billion in 2021 and is likely to grow at a CAGR of 8.07% during 2022-2028 to reach USD 4.51 billion in 2028. What is thermoplastic polyurethane? Thermoplastic Polyurethane is a polyurethane plastic form that has some of the common properties such as they are melt-processable and elastic in nature. Later on, it is processed through different options such as compression molding and injection for manufacturing end products such as footwear, wires and cables, and others. Thermoplastic Polyurethane is known for a number of properties like transparency, elasticity, and resistance to abrasion, grease, and oil. They are widely used in some of the common industries such as engineering, automotive, medical, footwear, wires and cables, building & construction, and others. COVID-19 IMPACT Thermoplastic polyurethane, a sizeable market, also couldn’t escape the pandemic and witnessed a huge decline as the pandemic largely influenced production. However, the market started to rebound in the year 2021 as assembly plants opened and the supply chain was revived. Read More: https://www.stratviewresearch.com/609/thermoplastic-polyurethane-market.html