Income Tax Department searches prominent business group in Hyderabad

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....ncome Tax Department searches prominent business group in Hyderabad <br>News and Press Release<br>Dated:- 19-10-2019<br><BR>Government of India Ministry of Finance Department of Revenue Central Boa....

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....rd of Direct Taxes New Delhi, 18th October, 2019 PRESS RELEASE Income Tax Department searches prominent business group in Hyderabad Income Tax Department conducted Search & Survey action on a prom....

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....inent business group having interest in infrastructure, irrigation, hydrocarbons and power sectors. More than 30 premises were covered in Hyderabad, NCR and Mumbai. Evidence of large-scale bogus expe....

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....nses, over-invoicing of purchase and sub- contract expenses have been found and seized. The group also indulged in out of books transactions and manipulation of books to suppress its taxable profits. ....

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.... Evidence of illegal payments through hawala channels running into hundreds of crores have also been found and seized. Unaccounted assets of &#8377; 17.4 cr have been seized. Further investigation i....

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....s in progress. (Surabhi Ahluwalia) Commissioner of Income Tax (Media & Technical Policy) Official Spokesperson, CBDT.<BR> News - Press release - PIB....