A Survey action was conducted by the Income Tax Department at Jaipur on 03.09.2013 in the case of a leading Builder and Developer of Jaipur which resulted in the detection of the additional income of Rs. 95.14 crores. The assessee not only admitted the said additional income but also furnished the post dated cheques of Rs. 39.21 crores towards his additional tax liability. Surprisingly no advance tax installment was paid by the said assessee in June, 2013. Incriminating documents were impounded during the survey evidencing unaccounted receipts on sale of flats/offices, unaccounted payments for purchase of flats, development expenses and other unaccounted cash transactions. 3 other survey actions at Jaipur in the cases of persons engaged in the real estate business resulted in further disclosure of additional income of Rs. 23 crores. In these cases also, the assessees have given post dated cheques for income tax payments towards their admitted tax liability.
Income Tax Surveys at Jaipur Result in Detection of Undisclosed Income of Rs. 118 Crore
Last updated: 07 September 2013
Follow on
Google News
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- CBDT Notifies ITR-BN Under Income Tax Rules 2026 for Block Assessment Cases
- ICAI Extends Time Limit for Transfer of Goodwill of Deceased CA Proprietor Firms from 1 Year to 3 Years
- Draft Insurance Rules 2026 Released: Centre Proposes Major Overhaul of 87-Year-Old Insurance Rules
- FM Sitharaman Calls for Greater Tax Certainty and Reduced Litigation at 167th Income Tax Day Celebration
- ICAI and IIPA Join Hands to Strengthen Municipal Finance, Accounting and Urban Governance
- Centre Notifies Additional PMLA Special Courts in Gujarat
- CBDT Grants Section 10(46) Exemption to District Legal Services Authority, Jind
- CBDT Revises 'Specified Fund' Definition Under Income Tax Act, 2025
- No Proposal to Scrap LTCG Tax for Retail Investors, Govt Clarifies in Lok Sabha
- RBI Releases Draft Foreign Investment Rules 2026, Invites Public Comments Till 31st August
Popular News
- CBDT Notifies NaBFID 10-Year Zero Coupon Bond Under Income Tax Act, 2025
- CBDT Notifies ITR-BN Under Income Tax Rules 2026 for Block Assessment Cases
- CBDT Notifies Cost Inflation Index (CII) for FY 2026-27 Under Income Tax Act, 2025
- CBDT Revises 'Specified Fund' Definition Under Income Tax Act, 2025
- Social Protection Fund Notified as Specified Person Under IT Act 2025 for Tax-Exempt Investments in India
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
