Quick Summary
The Income Tax Department carried out a search operation on 03.08.2022 on a Jhansi based group, engaged in the business of civil contract and real estate development. The search operation covered around 30 premises located in Jhansi, Delhi, Lucknow, Kanpur and Goa. During the course of the search operation, several incriminating evidences have been found and seized including documentary evidence of several immovable properties of various third parties. The preliminary analysis of evidences
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FAQ :
The Income Tax Department conducted the search operation due to suspected large-scale tax evasion by a Jhansi-based group involved in civil contracting and real estate development.
The search operation covered approximately 30 premises.
The searches took place in Jhansi, Delhi, Lucknow, Kanpur, and Goa.
The preliminary analysis revealed claims of bogus expenses and bogus sundry creditors exceeding Rs. 250 crore.
The operation resulted in the seizure of unaccounted cash and jewellery exceeding Rs. 15 crore.
A key modus operandi involved receiving 'on-money' payments over and above the stamp duty value, leading to tax evasion.
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