9911796707
TMI BlogIncome Tax Department conducts searches in Tamil NaduX X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Department conducts searches in Tamil Nadu X X X X Extracts X X X X X X X X Extracts X X X X ..... i. As a result of search action on these groups, a large number of incriminating evidences including documents and digital data have been found and seized. In the case of the group involved in real estate business, these evidences have revealed that the group has indulged in large scale tax evasion by accepting huge unaccounted cash by way of on-money. The group was using a software to maintain p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arallel set of books of such unaccounted cash transactions. In the case of the other group involved in the business of construction contracts, it is found that the group was involved in large scale tax evasion by debiting bogus sub-contract expenses and inflation of purchases of various raw material through self-made vouchers. In the modus-operandi followed by the group, the contract amounts were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid to bogus sub-contractors through banking channels, and after withdrawal, the cash was returned to the assessee group. The search operation in these groups has revealed unaccounted income exceeding Rs. 150 crore. Unaccounted cash exceeding Rs. 14 crore and unaccounted gold and jewellery valued at over Rs. 10 crore have been seized during the course of the search action. Further investigati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons are in progress.
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