I-T Dept. detects unaccounted transactions worth ₹1,400 crore
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The Income-Tax Department has detected unaccounted transactions to the tune of ₹1,400 crore throughout search and survey operations in opposition to three teams, together with a jeweller and two real-estate colonisers, in Jaipur.
One of the suspects is a outstanding builder. The company has discovered full particulars of the builder’s unaccounted transactions within the final six to seven years, maintained within the registers, slip pads, day-to-day casual money books, expense sheets and diaries discovered hidden in a basement.
“Total unaccounted transactions amounting to ₹650 crore have been detected so far…,” mentioned the company.
The second one is a multi-venture exercise group into valuable and semi-precious stones, jewelry, antiques, handicrafts, carpets and textiles. During searches, the company additionally seized papers associated to ‘benami’ belongings worth ₹15 crore.
“The jeweller group had also advanced unaccounted cash loans to various persons amounting to ₹122.67 crore and is also earning unaccounted interest on the same,” mentioned the Department, including that unrecorded transactions amounting to ₹525 crore have been detected.
Searches have additionally been carried out within the premises of one other famend builder, which has to date revealed undisclosed transactions worth ₹225 crore.
