Quick Summary
The Income Tax Department carried out search and surveyactionon 10.12.2020 in the cases of leading builders and entry operators in the Panvel region of Pune. The search and survey actions were carried out at 29 locations in Panvel and Vashi. The search action on the group resulted in unearthing o
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FAQ :
The Income Tax Department conducted search and survey actions on 10th December 2020, in the Panvel region of Pune, covering 29 locations in Panvel and Vashi.
The searches targeted leading builders and entry operators involved in real estate projects in the Panvel region.
The total unaccounted income detected so far amounts to £163 million, including cash seized during the search and survey actions.
Irregularities included the routing of unaccounted income from flat and land sales through shell companies as fake unsecured loans, non-genuine subcontract expenses, unaccounted expenses in land purchases, and undisclosed interest income.
Yes, unexplained/unaccounted cash of approximately £13.93 million was found and seized during the search action.
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