Disclosure of Benami assets worth 1500 crores of 3 business groups in Income Tax Raid
Disclosure of Benami assets worth 1500 crores of 3 business groups in Income Tax Raid, the account of black money was hidden in pink bags.
765 crore project of Guru Kripa Builders registered in RERA but did not pay any income tax, action can continue even today.
Documents seized to buy a company worth Rs 133 crore fraudulently, associates of Chordia Group also came on the radar of the Income Tax Department.
Documents of Benami business done with the code word of Silver Art Group seized, evidence of buying Benami properties worth crores in the name of SC ST people found.
In the income tax raids conducted for two days at the premises of three business groups in Jaipur, documents of investment in properties worth more than Rs 1500 crore have been found. The raids are on on the Income Tax Department's Chordia Developers Group, Gokul Kripa Builders and Silver Art Group. The action may continue till Thursday. Income tax raids have found documents of cash, jewelry, bank lockers, fixed deposits and share transactions in the form of Benami properties.
According to sources in the Income Tax Department, evidence of business has been found in the joint venture of Gokul Kripa Builders and Silver Art Group. Documents of Benami properties tied in pink-colored bags were seized from the basement of the office of Gokul Kripa Builders at Mansarovar. The receipts for the purchase of property in cash in pink bags have also been confiscated. Accounts of large-scale cash transactions have also been found in diaries. Projects worth 765 crores have been registered in RERA by the builder group. The group did not pay income tax for any of these projects. In the seized documents, it has also been revealed that Gokul Kripa Builders bought property worth Rs 100 crore in 2018-19 without paying income tax.
Undisclosed assets have been unearthed in the Income Tax raids on Chordia Developers Group. Documents of land worth Rs 250 crore have been found in Jaipur, out of which documents have been found for the investment of land on Ajmer Road. A total turnover of Rs 430 crore has also been disclosed by the group. Documents of fraudulent investment in many companies have also been found. Documents of fraudulent purchase of a company worth Rs 133 crore have also been seized. The Income Tax Department is also keeping an eye on the associate businessmen of Chordia Group.
In the income tax raids, documents of Benami business carried out with the code word of Silver Art Group have been seized. 122 crore cash transactions documents have been found in the raids, which also includes documents of jewelery sold to foreign travelers on a large scale in cash. Documents of selling jewelery for more than 100 crores in cash have been seized. According to the seized documents of the Income Tax Department, immovable properties were purchased on a large scale with black money. Benami properties purchased largely in the name of SC-ST people by Silver Art Group have been unearthed.
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