ANI
25 Oct 2021, 20:07 GMT+10
New Delhi [India], October 25 (ANI): The Income Tax Department carried out a search and seizure operation in the case of a person engaged in the real estate business, primarily operating as a land aggregator in Nashik, informed an official release.
As per the release, "The search and seizure operation was carried out on October 21. During the search and seizure operation, many incriminating documents including land agreements, notarised documents and other papers evidencing large scale cash transactions for the acquisition of properties have been found and seized. Such transactions are also corroborated by digital evidence extracted from computers and mobile phones."Further, a substantial amount of unaccounted cash was found stored in several private vaults. So far, unaccounted cash of Rs 23.45 crore has been seized. One locker is under prohibitory orders.
The main persons, who had invested their unaccounted income towards the purchase of large patches of land, were also searched. Most of these persons are engaged in the wholesale trading of onions and other cash crops in the Pimpalgaon Baswant region of Maharashtra.
Incriminating evidence, including records of large cash transactions made by these traders for making investments in properties, have also been found and seized. Several bank lockers found during the search have been put under prohibitory orders.
So far, an unaccounted income of more than Rs 100 crore has been detected as a result of the search operation. The evidence gathered is being examined and further investigations are in progress. (ANI)Get a daily dose of International Technology news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Technology.
More InformationSAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...
Hyderabad (Telangana) [India], July 1 (ANI): NMDC, India's largest iron ore producer, marked a significant milestone with the inauguration...
YINCHUAN, July 1 (Xinhua) -- China on Monday reached a major milestone in desertification control by completing a barrier belt along...
Hyderabad (Telangana) [India], June 29 (ANI): Olympic Games Tokyo 2020 medalist Lovlina Borgohain eased past Punjab's Krisha Verma...
Hyderabad (Telangana) [India], June 29 (ANI): Former youth world champion Ankushita Boro showcased her class on Day 2 of the Elite...
Panaji (Goa) [India], June 29 (ANI): The 'Raj Bhavan Annadhan' scheme was officially launched on Sunday at Old Durbar Hall, Raj Bhavan,...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
New Delhi [India], July 2 (ANI): Union Minister of Communications Jyotiraditya Scindia slammed Congress President Mallikarjun Kharge...
Washington DC [US], July 2 (ANI): United States President Donald Trump on Tuesday (local time) said that Israel has agreed to the necessary...
Washington DC [US], July 2 (ANI): As the US Senate passed the 'One Big Beautiful Bill' with Vice President JD Vance casting the tie-breaking...
Bengaluru (Karnataka) [India], July 2 (ANI): A two-person bench of Central Administrative Tribunal (CAT) observed Royal Challengers...