9911796707
TMI BlogIncome Tax Department conducts searches in KeralaX X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Department conducts searches in Kerala X X X X Extracts X X X X X X X X Extracts X X X X ..... e course of the search operation, various incriminating documents and digital evidences have been found and seized, including a parallel set of books of account recording the entries of actual sales and receipt of cash. These evidences have clearly revealed the modus operandi being followed by the quarry operators as they are indulging in large scale suppression of sales made in cash including the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fact that these transactions are not recorded in the regular books of account of the group. The correlation of these evidences also indicates that unaccounted cash so generated is systematically invested in acquisition of immovable properties, used for the business of cash loans, and unrecorded capital investments in other businesses. The search team has also gathered evidences of on-money paym ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent for purchase of properties and substantial cash deposits in undisclosed bank accounts. The assessees of the group have been found to have sold immovable properties without duly accounting for the capital gains arising from such transactions. The search action has resulted in seizure of unaccounted cash of more than ₹ 2.30 crore. So far, the search has led to the detection of estimated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unaccounted income to the tune of ₹ 200 crore.
Further investigations are in progress. X X X X Extracts X X X X X X X X Extracts X X X X
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