CBDT said on Monday that the income tax department recently raided two business groups in Gurugram, Haryana, and found unaccounted income of Rs 6 billion. The company said in a statement that the search was carried out on these groups on November 10, one of which was engaged in the real estate and hotel industry, and the other engaged in the tool and equipment manufacturing group.
The Central Commission for Direct Taxation (CBDT) stated: “Search operations against these groups have resulted in the detection of estimated unaccounted income of up to Rs 6 billion.” The decision-making body of the tax department stated that cash and jewellery worth 5.15 million rupees were confiscated and 18 bank lockers were seized.
“Various criminal documents and electronic data related to unaccounted for investment in real estate, unaccounted for purchases and sales, stock price differences, acquisition of shell companies, Benami assets and transactions, false unsecured loans and stock application funds, escaped capital gains, etc.
“One of the groups seized evidence that family members who did not have any corresponding qualifications or were not involved in the management of the enterprise received large sums of money in the form of wages and remuneration. ” CBDT did not identify the entity that was raided.
News Source : Hindustan Times
