December 3, 2019 at 6:36 am | Latest Finance News

Income Tax Department conducts searches in NCR

New Delhi: The Income Tax Department conducted a search and survey action on a group having an interest in infrastructure, mining and real estate.

More than 25 premises were covered in NCR.

Search action led to the recovery of unaccounted assets and incriminating documents.

Cash ledgers containing details of unaccounted cash receipts of more than Rs 250 crore have also been found and seized.

The group also did not pay taxes on several property transactions. Unaccounted assets of Rs 3.75 crore have been seized.

Thirty-two bank lockers have also been sealed.

The group has admitted undisclosed income of more than Rs 3,000 crore and agreed to pay tax on the same.

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