The Income-Tax Department’s searches against two real estate groups and associated entities in Maharashtra, Goa and Rajasthan have led to the detection of ₹184 crore unaccounted income.
During the search operations, which commenced on October 7, the agency covered about 70 premises in Mumbai, Pune, Baramati, Goa and Jaipur.
Certain suspicious flow of funds pertaining to the two groups had taken place with the involvement of an influential family of Maharashtra, said the agency without disclosing the identities. “The evidence gathered has revealed several unaccounted and ‘benami’ transactions. Documents, evidencing the unaccounted income of the two groups, have been found,” the I-T Department said. The agency also identified transactions made by the two business groups with a web of companies that appeared to be suspicious.
