Quick Summary
Introduction In a major revelation, the Directorate of Investigations of the Income Tax (I-T) department in Surat has unraveled unaccounted business transactions amounting to Rs 700 crore during searches conducted on the premises of two real estate firms. The investigation, triggered by suspicion
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
BEST VALUE
2 YEAR PLAN
3,499
(Excl. of GST ₹629)
1 YEAR PLAN
1,999
(Excl. of GST ₹359)
3 MONTHS PLAN
999
(Excl of GST ₹179)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The Income Tax department in Surat uncovered unaccounted business transactions amounting to Rs 700 crore in two real estate firms.
The IT department utilised advanced surveillance technology, including CCTV footage from police, Surat Municipal Corporation, and private properties, to track hidden financial dealings and documents.
Cash and jewellery worth Rs 10 crore were seized, and over 15 bank lockers belonging to the firms have been sealed.
Crucial business documents that were not reflected in the official accounts were found concealed in the residences of lower-rung employees of one of the firms.
CCTV footage was instrumental in tracking the movement of employees and documents between different locations, exposing the firms' efforts to evade detection.
CAclubindia
