Rajkot: The investigation wing from the income tax department explored countless cash receipts at Rs 350 Crore during its ongoing search operations in the Place of the Rajkot-based Builder Group.
The operation began on August 24 and continued.
According to a press statement issued by the Department, I-T officials found many burdensome documents, loose sheets, and digital evidence that showed group involvement in countless transactions.
“Proof of substantial transactions outside ordinary account books, countless cash costs, accepted advances and flowers paid in cash, have been found.
Proof of on-money payments in real estate projects include flat, shop, and land transactions as well It has been found.
Total cash receipts that are not achieved in various projects around RS 350 Crore have been excavated, along with corrobious evidence.
Furthermore, evidence related to the purchase of land around RS 154 Crore has also been found, where RS 144 Crore is said to be paid in cash , “said an official.
This group is between builders and real estate developers who stand out and are involved in the trade and trade business of land in and around Rajkot.
Sleuth I-T has covered more than 40 places during search operations including partners, contractors, major employees and several customers.
According to officials, search operations and seizures have resulted in detection of income hiding more than RS 300 Crore spread across various years of assessment and this number tend to rise.
Officials capture countless cash 6.4 crores and jewelry worth RS 1.7 Crore during search operations from various places.
Note Promes by Rs 4 Crore also confiscated and 25 bank lockers have been included under the command of the occupant.
Countless cash receipts RS 350CR found
