TaxTMI 
TaxTMI 
Income Tax Department conducts search operations in Pune, Maharashtra
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....ncome Tax Department conducts search operations in Pune, Maharashtra <br>News and Press Release<br>Dated:- 2-12-2021<br><BR>The Income Tax Department has initiated search and seizure operations on a l....
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....eading group of Pune, engaged in dairy farming and milk products, on 25.11.2021. The search action covered more than 30 premises spread over 6 cities in India. During the course of search action, sev....
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....eral incriminating documents and evidences of tax evasion have been found and seized. The preliminary analysis of these evidence clearly shows evasion of taxable income by adopting various malpractice....
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....s such as claim of bogus purchases, unaccounted cash sales, cash loan transactions and their repayment, unexplained cash credits, etc. Instances of incorrect claim of loss on account of sale or death ....
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....of livestock, etc. have also been noticed. Evidence has also been gathered revealing that the assesse group has not maintained proper and separate books of account for claiming specific deduction fro....
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....m its taxable income. The search operation has resulted in the seizure of unaccounted cash and unexplained jewellery of about ₹ 2.50 crore while some bank lockers are yet to be operated. The se....
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....arch action, so far, has led to the detection of unaccounted income of more than ₹ 400 crore. Further investigations are under progress.<BR> News - Press release - PIB....