TaxTMI 
TaxTMI 
TaxTMI 
Search on a prominent Real Estate Group in Mumbai
X X X X Extracts X X X X
X X X X Extracts X X X X
....earch on a prominent Real Estate Group in Mumbai <br>News and Press Release<br>Dated:- 2-8-2019<br><BR>The Income Tax Department conducted Search and Seizure operation on 29.07.2019 on a prominent gro....
X X X X Extracts X X X X
X X X X Extracts X X X X
....up involved in Real Estate Development, covering more than 40 premises across Mumbai and Pune. During the course of search operations, the Department unearthed evidences related to receipt of 'On Mone....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y' on sale of commercial and residential blocks, bogus unsecured loans taken, bogus Long Term Capital Gains and various other sham transactions to evade income aggregating to about ₹ 700 crore. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... The search action has unravelled peculiar transactions wherein by way of accounting jugglery, income on transactions worth about ₹ 525 crore has been evaded. 'On Money' receipt on sale of Resid....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ential / Commercial Blocks amounting to ₹ 100 crore has been corroborated during the search. During the search, incriminating evidence was unearthed pertaining to modus operandi establishing the....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... introduction of accommodation loans by the group, which have been found to be bogus. Moreover, use of entry providers / hawala operators for entries of Long Term Capital Gains by the promoters of thi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s real estate group have been affirmed during the search action. The action has also resulted into detection of jewellery worth approximately ₹ 14 crore, which is under verification. The invest....
X X X X Extracts X X X X
X X X X Extracts X X X X
....igation and search action is still in progress.<BR> News - Press release - PIB....