Quick Summary
Income Tax Department carried out search and seizure operations on 17.02.2021 on a group based in Sangamner, Pune at 34 different locations across Maharashtra. The group entities are largely engaged in packaging and sale of tobacco and related products, generation and distribution of power, sale of
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FAQ :
The total undisclosed income detected so far amounts to Rs. 335 crore.
The search and seizure operations were carried out at 34 different locations across Maharashtra, with a focus on a group based in Sangamner, Pune.
The group is primarily engaged in the packaging and sale of tobacco and related products, generation and distribution of power, sale of FMCGs, and real estate development.
Unrecorded cash sales related to tobacco amounted to Rs. 243 crore, with an additional Rs. 40 crore found from dealers.
Evidence of transactions amounting to Rs. 18 crore was found in real estate, with profit on unrecorded sales accepted at Rs. 9 crore. Violations of section 50C of the Income-tax Act, 1961, amounting to Rs. 23 crore were also identified.
Yes, unaccounted cash amounting to Rs. 1 crore was seized during the operation.
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