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    HomeNewsBusinessI-T sleuths seize Rs 2.5 crore in cash, Rs 1-crore jewellery from real estate group

    I-T sleuths seize Rs 2.5 crore in cash, Rs 1-crore jewellery from real estate group

    The search covered more than 20 premises in Gujarat, Silvassa and Mumbai, and the group’s unaccounted income is likely to be more than Rs 100 crore

    Moneycontrol News
    November 21, 2021 / 14:36 IST
    Representative Image: Shutterstock

    Representative Image: Shutterstock

    The income-tax (I-T) department has seized Rs 2.5 crore and jewellery of Rs 1 crore from a real estate group on November 18, CNBC-TV18 reported.

    The I-T department search covered more than 20 premises in Gujarat, Silvassa and Mumbai, the channel said, adding that the group’s unaccounted-for income is likely to be more than Rs 100 crore.

    More than 16 bank lockers have been placed under restraint, the report said, adding that evidences indicate evasion of taxable income.

    Apart from real estate, the group is also engaged in chemical manufacturing.

    Moneycontrol News
    first published: Nov 21, 2021 02:36 pm

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