Tax Management India. Com
                        Law and Practice: A Digital eBook ...

☞ Data-bank

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News D. Forum
Highlights
What's New  Latest Cases 

Share:      

        Home        
 
News
Home News News and Press Release Month 11 2021 2021 (11) This
← Previous Next →
 

Income Tax Department conducts searches in Rajasthan

November 5, 2021
  • Contents

The Income Tax Department carried out search and seizure operations in border districts of Rajasthan on 28.10.2021 covering 33 premises at different locations, where the groups are carrying on business of real estate, sand-mining and liquor trade.

During the course of the search, documentary evidences were found and seized indicating receipt of unaccounted cash as well as utilisation of the same towards purchase of land. Further, documentary evidence of cash sales of sand has been found and seized. The analysis of the same reveals that part of these cash sales have not been recorded in the books of accounts.

The search operation has resulted in seizure of unaccounted cash of ₹ 2.31 crore and unexplained jewellery of ₹ 2.48 crore.

The search action has led to the detection of total unaccounted income exceeding ₹ 50 crore. Out of the above, the assessees have admitted unaccounted income exceeding ₹ 35 crore and offered to pay due taxes on the same.

Further investigations are in progress.

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||