https://www.taxtmi.com/news?id=22414 Searches of a hotel group and its promoters uncovered substantial undisclosed foreign assets and domestic tax irregularities, prompting potential action under the Black Money Act and proceedings under the Income Tax Act. Identified foreign assets include a hotel investment and immovable properties in the UK and UAE, and deposits with foreign banks. The operation also resulted in seizure of unaccounted cash, jewellery and luxury watches, forming the factual basis for statutory enforcement and assessment under the tax and anti-black-money framework. en-us Sat, 25 Jan 2020 10:59:02 +0530 Sat, 25 Jan 2020 10:59:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22414 Searches of a hotel group and its promoters uncovered substantial undisclosed foreign assets and domestic tax irregularities, prompting potential action under the Black Money Act and proceedings under the Income Tax Act. Identified foreign assets include a hotel investment and immovable properties in the UK and UAE, and deposits with foreign banks. The operation also resulted in seizure of unaccounted cash, jewellery and luxury watches, forming the factual basis for statutory enforcement and assessment under the tax and anti-black-money framework. News - Sat, 25 Jan 2020 10:59:02 +0530 https://www.taxtmi.com/news?id=22414