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The Income Tax Department carried out searches on 17.03.2021 in the case of a prominent builder and developer group based in Mumbai. Searches were also conducted in the case of dealers engaged in the business of trading of mobiles accessories. In all, 29 premises located in Mumbai were covered under
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FAQ :
The searches focused on a prominent builder and developer group and dealers engaged in the business of mobile accessories trading.
A total of 29 premises in Mumbai were covered under search operations, and 14 premises were covered under survey action.
Evidence revealed the builder group received approximately Rs. 150 crore in 'on-money' receipts for a commercial mall and Rs. 70 crore for a residential-cum-commercial project, which were not accounted for. Cash totalling Rs. 5.50 crore was also seized.
Incriminating evidence of out-of-books sales, under-invoiced imports from China, and payments made through hawala channels were found. Unaccounted stock in 13 secret godowns and unaccounted investments in properties worth Rs. 40.5 crore were also detected.
The searches have resulted in the detection of undisclosed income amounting to around Rs. 270 crore.
Transactions with Chinese counterparts took place through the We-Chat app, and the Department has recovered We-chat messages using forensics.
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