Income Tax Department searches prominent business group in Hyderabad

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..... Income Tax Department searches prominent business group in Hyderabad
News and Press Release
Dated:- 19-10-2019

Government of India Ministry of Finance Department of Revenue Central Bo .....

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..... ard of Direct Taxes New Delhi, 18th October, 2019 PRESS RELEASE Income Tax Department searches prominent business group in Hyderabad Income Tax Department conducted Search & Survey action on a pro .....

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..... minent business group having interest in infrastructure, irrigation, hydrocarbons and power sectors. More than 30 premises were covered in Hyderabad, NCR and Mumbai. Evidence of large-scale bogus exp .....

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..... enses, over-invoicing of purchase and sub- contract expenses have been found and seized. The group also indulged in out of books transactions and manipulation of books to suppress its taxable profits. .....

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..... Evidence of illegal payments through hawala channels running into hundreds of crores have also been found and seized. Unaccounted assets of ₹ 17.4 cr have been seized. Further investigation .....

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..... is in progress. (Surabhi Ahluwalia) Commissioner of Income Tax (Media & Technical Policy) Official Spokesperson, CBDT.
News - Press release - PIB .....

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