Quick Summary
The Income Tax Department has carried out a search and seizure operation on a prominent group engaged in manufacturing of chemicals and development of real estate on18.11.2021. The search action covered more than20 premisesspread over Vapi and Sarigam in Gujarat, Silvassa and also in Mumbai. A la
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FAQ :
The search and seizure operation was conducted on November 18, 2021.
The targeted group was engaged in the manufacturing of chemicals and the development of real estate.
The operation covered more than 20 premises spread across Vapi and Sarigam in Gujarat, Silvassa, and Mumbai.
Incriminating evidence in the form of documents, diary notings, and digital data showing huge unaccounted income and asset investments were found and seized.
Approximately Rs 2.5 crore in unaccounted cash and Rs 1 crore in jewellery were seized.
A preliminary analysis indicates that the estimated unaccounted income is likely to be more than Rs 100 crore.
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