Quick Summary
The Income Tax Department initiated search and seizure operations on a real estate group, engaged in the construction of residential and commercial projects, in Mumbai and Navi Mumbai Region on25.11.2021. The group is mainly carrying out development of slum rehabilitation projects. The search action
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FAQ :
The Income Tax Department initiated search and seizure operations on a real estate group.
The operations were conducted on premises in Mumbai and the Navi Mumbai Region.
The group is mainly engaged in the development of slum rehabilitation projects, as well as residential and commercial projects.
Evidence of tax evasion was found, including receipt of Rs 100 crore in unaccounted cash from flat sales and defaults on tax deduction at source exceeding Rs 300 crore. Unaccounted cash exceeding Rs 6 crore was seized.
Yes, evidence suggested unaccounted cash payments for slum dweller property vacation and violations of Slum Rehabilitation Authority guidelines were detected.
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