Quick Summary
The Income Tax Department carried out search and seizure operations on 10.11.2021 on two groups, one engaged in real estate and hospitality and the other, a tools and equipment manufacturing group at Gurugram. Various incriminating documents and electronic data relating to unaccounted investment in real estate, unaccounted sales and purchases, difference in stock, acquisition of shell companies, benami properties and transactions, bogus unsecured loans and share application money, evasion of
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1999
(Excl. of GST ₹359)
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3499
(Excl. of GST ₹629)
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999
(Excl. of GST ₹179)
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FAQ :
The Income Tax Department searched two groups: one involved in real estate and hospitality, and another in tools and equipment manufacturing.
The search and seizure operations were conducted on 10.11.2021.
Incriminating documents and electronic data were seized, relating to unaccounted investments, sales, purchases, shell companies, benami properties, bogus loans, and evasion of capital gains.
A total of Rs. 3.54 crore in cash and jewellery valued at Rs. 5.15 crore were seized.
The search action has led to the detection of an estimated Rs. 600 crore in unaccounted income.
No, further investigations are currently in progress.
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