Income Tax Department conducts searches in Pune

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..... Income Tax Department conducts searches in Pune
News and Press Release
Dated:- 22-1-2021

The Income Tax Department carried out search and survey operations on 12.01.2021 in the cases of .....

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..... leading builders located in Borivali-Mira Road-Bhayander Area of Thane. The search action has resulted in seizure of unaccounted cash of ₹ 10.16 crore. Total unaccounted income of earlier years .....

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..... detected during the search operation is ₹ 520.56 crore including the cash seized. The unaccounted income inter alia includes on-money on sale of land and flats; accommodation entries of non-gen .....

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..... uine unsecured loans routed through certain shell/paper companies; unaccounted cash receipts in the nature of capital introduction/cash loan; unaccounted cash expenses etc. Further, the unrecognized .....

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..... sales revenue of ₹ 514.84 crore for FY 2019-20 has been accepted by the group during the search action. Accordingly, the group has agreed to pay Self Assessment Tax on the same. Lockers found d .....

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..... uring the course of search operation are yet to be operated. Further investigations are in progress.
News - Press release - PIB .....

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