https://www.taxtmi.com/news?id=23208 Income-tax authorities carried out search and seizure operations at multiple premises of a group active in trading, edible oil production, real estate and tea estates, uncovering evidence of transactions outside regular books, unaccounted cash expenses, cash advances and cash-paid interest, and cash injected into shell companies then advanced as loans to a real estate company. Seized digital and handwritten records indicate cash loans, out-of-books receipts for bookings, out-of-books payments to contractors and fictitious payments, suggesting understated project costs; investigations and examination of advances and cash dealings are ongoing. en-us Sun, 27 Sep 2020 09:59:09 +0530 Sun, 27 Sep 2020 09:59:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23208 Income-tax authorities carried out search and seizure operations at multiple premises of a group active in trading, edible oil production, real estate and tea estates, uncovering evidence of transactions outside regular books, unaccounted cash expenses, cash advances and cash-paid interest, and cash injected into shell companies then advanced as loans to a real estate company. Seized digital and handwritten records indicate cash loans, out-of-books receipts for bookings, out-of-books payments to contractors and fictitious payments, suggesting understated project costs; investigations and examination of advances and cash dealings are ongoing. News - Sun, 27 Sep 2020 09:59:09 +0530 https://www.taxtmi.com/news?id=23208