https://www.taxtmi.com/news?id=23530 Searches of three Kolkata real estate and stock-broking groups uncovered use of paper/shell companies to raise bogus share capital and unsecured loans, out-of-books cash transactions, and significant unbooked revenue from flat sales. Enquiries indicate routing back of unaccounted group funds through shell entities. Investigations detected concealment of income amounting to Rs. 365 crore, with assessees admitting undisclosed income of Rs. 111 crore, and seizures of unaccounted cash and jewellery; further investigations continue. en-us Sat, 09 Jan 2021 09:20:48 +0530 Sat, 09 Jan 2021 09:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23530 Searches of three Kolkata real estate and stock-broking groups uncovered use of paper/shell companies to raise bogus share capital and unsecured loans, out-of-books cash transactions, and significant unbooked revenue from flat sales. Enquiries indicate routing back of unaccounted group funds through shell entities. Investigations detected concealment of income amounting to Rs. 365 crore, with assessees admitting undisclosed income of Rs. 111 crore, and seizures of unaccounted cash and jewellery; further investigations continue. News - Sat, 09 Jan 2021 09:20:48 +0530 https://www.taxtmi.com/news?id=23530