Income Tax Department
The Income Tax Department had conducted search and seizure operations at several places in Maharashtra since last Thursday, October 21, in the case of a person engaged in real estate business primarily working as a land aggregator. So far, unaccounted income of more than Rs 100 crore has been unearthed in the search operation of the Income Tax Department. The evidence collected is being examined and further investigation is on.
The Central Income Tax Department informed that during the search and seizure operation, several incriminating documents including land agreements, notarized documents and other papers were found and seized as evidence of large scale cash transactions for acquisition of property. Such transactions are also corroborated by digital evidence extracted from computers and mobile phones. Apart from this, huge amounts of unaccounted cash have been found in many private safes. 23.45 crore has been seized so far and one locker has also been sealed.
In this search operation of the Income Tax Department, many illegal unaccounted incomes have also been found to be invested for the purchase of large tracts of land, the transactions for which are being investigated. Most of the persons involved in this transaction are engaged in wholesale trading of onions and other cash crops in Pimpalgaon Baswant area of Maharashtra.
Incriminating evidence including records of large cash transactions carried out by these traders to invest in properties have also been found and seized. Prohibitory orders have been imposed on several bank lockers found during the search.
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