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Home News News and Press Release Month 12 2019 2019 (12) This
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Income Tax Department conducts searches in NCR

December 3, 2019
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The Income Tax Department conducted a search and survey action on a group having interest in infrastructure, mining and real estate. More than 25 premises were covered in NCR.

Search action led to recovery of unaccounted assets and incriminating documents. Cash ledgers containing details of unaccounted cash receipts of more than ₹ 250 crore have also been found and seized. The group also did not pay taxes on several property transactions. Unaccounted assets of ₹ 3.75 crore have been seized. Thirty-two bank lockers have also been sealed. The group has admitted undisclosed income of more than ₹ 3,000 crore and agreed to pay tax on the same.

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