Quick Summary
The Income Tax Department carried out a search seizure action on 25.08.2022 on two groups engaged in the business of sand mining, sugar manufacturing, road construction, healthcare, running of medical college etc. The search action covered more than 20 premises spread over Solapur, Osmanabad, Nashi
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FAQ :
The search and seizure action was carried out on 25th August 2022.
The targeted groups were involved in sand mining, sugar manufacturing, road construction, healthcare, and running medical colleges.
The searches covered more than 20 premises spread across Solapur, Osmanabad, Nashik, and Kolhapur districts in Maharashtra.
Evidence of booking bogus expenses, undisclosed cash sales, unexplained loans/credit entries, and unaccounted cash introductions were found.
So far, the search action has led to the detection of unaccounted income exceeding £100 crore.
Yes, undisclosed assets exceeding £5 crore have also been seized.
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