https://www.taxtmi.com/news?id=23761 Search and seizure operations across Maharashtra uncovered extensive unrecorded cash sales in the tobacco business, additional unrecorded dealer sales, and cash over and above registered values in real estate transactions. Seized handwritten and electronic records evidenced these unrecorded transactions; investigators identified potential violations of section 50C, seizure of unaccounted cash, and acceptance by the assessee of profit on unrecorded real estate sales, with further inquiries ongoing to determine the full tax implications. en-us Mon, 22 Feb 2021 14:24:00 +0530 Mon, 22 Feb 2021 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23761 Search and seizure operations across Maharashtra uncovered extensive unrecorded cash sales in the tobacco business, additional unrecorded dealer sales, and cash over and above registered values in real estate transactions. Seized handwritten and electronic records evidenced these unrecorded transactions; investigators identified potential violations of section 50C, seizure of unaccounted cash, and acceptance by the assessee of profit on unrecorded real estate sales, with further inquiries ongoing to determine the full tax implications. News - Mon, 22 Feb 2021 14:24:00 +0530 https://www.taxtmi.com/news?id=23761