Income Tax sleuths carry out searches in Gurugram
Income Tax sleuths carry out searches in Gurugram
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Gurugram: The Income Tax Department searched and seized two groups in Gurugram, one in the real estate and hospitality sector and the other in the tools and equipment manufacturing sector.

The department discovered and seized various incriminating documents and electronic data relating to unaccounted real estate investment, unaccounted sales and purchases, stock differences, acquisition of shell companies, benami properties and transactions, bogus unsecured loans and share application money, evasion of capital gains, and so on.

In addition, proof of huge sums of money being received in the form of salary and remuneration by family members with no commensurate qualifications or participation in the management of the enterprises has been discovered and confiscated in one of the groups, according to the department.

A total of Rs 3.54 crore in cash and jewellery worth Rs 5.15 crore has been confiscated. A total of 18 bank lockers have been put under lockdown. The search operation among these organisations resulted in the discovery of an estimated Rs 600 crore in undeclared income. More research is being carried out.

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