Monday, September 28 2020

August 21, 2020

Income Tax Department conducts searches in Bhopal

The Income Tax Department carried out a search and seizure operation at various locations in Bhopal.

The key person of one of the groups covered used to run a bangles shop. Another person covered is a property builder/developer and is also running a cricket academy. During the course of the search operation, documents pertaining to about 100 properties in the nature of plots, flats and agricultural lands having market value of about Rs.105crorehave been found. Documents indicate that a huge amount of undisclosed cash was invested in these properties in the last 6 years. Most of the properties have been found in the names of persons of no means, indicating that these are benami properties. During the search, cash and jewellery worth Rs. 1.8crore have been seized.