https://www.taxtmi.com/news?id=24260 Income-tax authorities conducted coordinated search-and-seizure operations that uncovered evidence of extensive unaccounted income across mining, liquor, hospitality, media and real estate activities, with cash and documentary seizures. The probe indicates use of non-existent and paper companies to launder receipts via inflated share premia, fabricated loans and bogus trade payables, entities lacking economic substance, cash payments breaching statutory limits, and routing through a group trust; one branch voluntarily disclosed undisclosed income when confronted. Further investigation is ongoing. en-us Mon, 26 Jul 2021 09:50:38 +0530 Mon, 26 Jul 2021 09:50:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24260 Income-tax authorities conducted coordinated search-and-seizure operations that uncovered evidence of extensive unaccounted income across mining, liquor, hospitality, media and real estate activities, with cash and documentary seizures. The probe indicates use of non-existent and paper companies to launder receipts via inflated share premia, fabricated loans and bogus trade payables, entities lacking economic substance, cash payments breaching statutory limits, and routing through a group trust; one branch voluntarily disclosed undisclosed income when confronted. Further investigation is ongoing. News - Mon, 26 Jul 2021 09:50:38 +0530 https://www.taxtmi.com/news?id=24260