TMI BlogIncome Tax Department conducts search on a prominent business group in PuneX X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Department conducts search on a prominent business group in Pune - News and Press Release Dated:- 8-11-2019 - News - Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 07th November, 2019 PRESS RELEASE Income Tax Department conducts search on a prominent business g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roup in Pune Income Tax Department conducted searches on a prominent business group in Pune on 06/11/2019 under the Income Tax Act, 1961. The searches were conducted at various places covering the cities of Pune, Mumbai, Nagpur, Delhi, Bengaluru and Noida. A total of 15 premises were covered in search action under section 132 and 13 premises were covered under section 133A . The g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roup has diversified business activities and provides services in the areas of mechanized house-keeping, landscaping and gardening, civil and electrical maintenance, fabrication services, turnkey solutions, logistic support and other services required by government agencies and municipal corporations. The search was carried out based on specific information regarding the claim of bogus losses, bog ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us purchases and bogus sub-contract expenses. The search and seizure action has led to unearthing of incriminating evidence regarding bogus claim of brought-forward losses of ₹ 91 crore pursuant to scheme of demerger which is not found in accordance with the provisions of I.T. Act, 1961 . Bogus expenses in the form of unsubstantiated purchases to the tune of ₹ 77 crore have a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso been detected so far and further verification is in progress. Evidence has also been found in respect of cash expenses to the tune of ₹ 20 crore. Further, unaccounted cash of ₹ 60 Lakh has been found. Several lockers have been found and put under restraint. Based on evidence unearthed so far, undisclosed income to the tune of ₹ 180 crore from A.Y. 2016-17 onwards has been det ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected. Search proceedings are still under progress. (Surabhi Ahluwalia) Commissioner of Income Tax (Media Technical Policy) Official Spokesperson, CBDT. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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