Income Tax Department conducts searches in Bhopal

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....ncome Tax Department conducts searches in Bhopal <br>News and Press Release<br>Dated:- 22-8-2020<br><BR>The Income Tax Department carried out a search and seizure operation on 20.08.2020 at various lo....

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....cations in Bhopal. The key person of one of the groups covered used to run a bangles shop. Another person covered is a property builder/developer and is also running a cricket academy. During the cou....

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....rse of the search operation, documents pertaining to about 100 properties in the nature of plots, flats and agricultural lands having market value of about &#8377; 105 crore have been found. Documents....

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.... indicate that a huge amount of undisclosed cash was invested in these properties in the last 6 years. Most of the properties have been found in the names of persons of no means, indicating that these....

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.... are benami properties. During the search, cash and jewellery worth &#8377; 1.8 crore have been seized. Further, documentary evidence gathered during the search operation indicates partnership/associ....

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....ation with some retired government servants and holding of their benami properties. Investigations are still in progress.<BR> News - Press release - PIB....