Quick Summary
The Income Tax Departmentcarried outsearch and seizure operations on 29.06.2022 on a group engaged in the business of manufacturing and distribution of Pharmaceutical medicines and Real Estate Development. The search action covered 25 premises in Delhi-NCR and Haryana. A large number of incriminating documents in the form of loose sheets and digital data have been found and seized. These documents reveal that the group was involved in huge unaccounted sales of pharmaceutical medicines in cash
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FAQ :
The group is involved in the manufacturing and distribution of pharmaceutical medicines, as well as real estate development.
The searches took place across 25 premises in Delhi-NCR and Haryana.
The searches revealed significant unaccounted cash sales of pharmaceutical medicines and out-of-books transactions in real estate.
Yes, cash receipts through hawala for the sale of medicines to Afghanistan were found.
Unaccounted cash of £4.2 million and jewellery/bullion worth £4 million were seized. A large amount of incriminating documents and digital data were also found.
Yes, the group booked bogus capital losses estimated at £20 million to offset capital gains and floated benami entities to purchase properties.
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