TaxTMI 
TaxTMI 
TaxTMI 
Income Tax Department conducts searches in Gurugram
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....ncome Tax Department conducts searches in Gurugram <br>News and Press Release<br>Dated:- 15-11-2021<br><BR>The Income Tax Department carried out search and seizure operations on 10.11.2021 on two grou....
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....ps, one engaged in real estate and hospitality and the other, a tools and equipment manufacturing group at Gurugram. Various incriminating documents and electronic data relating to unaccounted invest....
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....ment in real estate, unaccounted sales and purchases, difference in stock, acquisition of shell companies, benami properties and transactions, bogus unsecured loans and share application money, evasio....
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....n of capital gains, etc. were found and seized. Further, evidence of large sums of money having been received in the form of salary and remuneration by family members without any commensurate qualific....
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....ation or participation in the management of the businesses has been found and seized in one of the groups. Total cash amounting to ₹ 3.54 crore and Jewellery valued at ₹ 5.15 crore have b....
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....een seized. In total, 18 bank lockers have been placed under restraint. The search action, in these groups, has led to the detection of estimated unaccounted income to the tune of ₹ 600 crore. ....
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.... Further investigations are in progress.<BR> News - Press release - PIB....