Quick Summary
The Income Tax Department initiated search and seizure operations on a prominent business group, engaged primarily in the manufacturing of stainless steel and metal pipes, in Ahmedabad on 23.11. 2021. The search operation covered more than 30 premises in Ahmedabad and Mumbai. During the course of the search operation, a large number of incriminating documents, loose sheets, digital evidence etc. have been found and seized. These evidences contain detailed records of the groups unaccounted inc
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FAQ :
The Income Tax Department searched a prominent business group primarily engaged in the manufacturing of stainless steel and metal pipes.
The search operations covered more than 30 premises in Ahmedabad and Mumbai.
Incriminating documents, loose sheets, digital evidence, deleted WhatsApp chats, and records of unaccounted income, cash loans, bogus expenses, and land investments were found and seized.
The search action has led to the detection of total unaccounted transactions exceeding Rs. 500 crore.
Unaccounted cash of Rs. 1.80 crore and unexplained jewellery valued at Rs. 8.30 crore were seized. Additionally, 18 bank lockers have been put under restraint.
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