https://www.taxtmi.com/news?id=23249 Search-and-seizure operations targeted a real estate, construction and land-trading group, resulting in seizure of unaccounted cash, jewellery and bank lockers and recovery of extensive documentary and digital evidence. A network of companies at common addresses was found to lack real business and statutory filings, with nominee directors; intra-group routing, inflated property costs, off-books transactions, unaccounted cash expenses and on-money dealings were identified. Records linking properties to cooperative societies and registered sale-purchase instruments were recovered and applicability of the Prohibition of Benami Property Transactions Act, 1988 is being examined. en-us Sat, 10 Oct 2020 09:32:34 +0530 Sat, 10 Oct 2020 09:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23249 Search-and-seizure operations targeted a real estate, construction and land-trading group, resulting in seizure of unaccounted cash, jewellery and bank lockers and recovery of extensive documentary and digital evidence. A network of companies at common addresses was found to lack real business and statutory filings, with nominee directors; intra-group routing, inflated property costs, off-books transactions, unaccounted cash expenses and on-money dealings were identified. Records linking properties to cooperative societies and registered sale-purchase instruments were recovered and applicability of the Prohibition of Benami Property Transactions Act, 1988 is being examined. News - Sat, 10 Oct 2020 09:32:34 +0530 https://www.taxtmi.com/news?id=23249