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Income Tax Department conducts searches in Delhi-NCR on Automobile Manufacturing Group, Company Operating Chartered Flights and Real Estate Groups The Income Tax Department conducted a search and seizure operation on a leading automobile manufacturer group along with a company operating chartered flights and a real estate group of Delhi-NCR covering more than 35 premises across Delhi-NCR, on 23.03.2022. During the course of the search operation, various incriminating documents and digi
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FAQ :
The Income Tax Department conducted searches on a leading automobile manufacturing group, a company operating chartered flights, and real estate groups in Delhi-NCR.
The search and seizure operation covered more than 35 premises across Delhi-NCR.
Incriminating documents indicated expenses claimed for business purposes were not fully supported by evidence, with over Rs. 800 crore booked for services from an event management entity that siphoned off money. Unaccounted cash of over Rs. 60 crore was found in a farm land deal, and evidence of bogus expenses and non-recognition of income totalling over Rs. 50 crore was found in the chartered flight company.
Yes, undisclosed cash exceeding Rs. 1.35 crore was seized, and jewellery worth over Rs. 3 crore was provisionally restrained.
Incriminating documents were unearthed from the real estate businesses, containing records of on-money transactions where cash was received for the sale of units in their projects.
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