Income Tax Department conducts searches on groups engaged in the business of Digital Marketing & Waste Management (Ministry of Finance Press Release dated 17th Oct 2021)

The Income Tax Department initiated search and seizure operations in two groups based in several States on 12.10.2021. The first group is engaged in digital marketing and campaign management wherein the search operations have been carried out at 7 premises located in Bengaluru, Surat, Chandigarh, and Mohali. Incriminating evidence found reveals that the group hasContinue reading “Income Tax Department conducts searches on groups engaged in the business of Digital Marketing & Waste Management (Ministry of Finance Press Release dated 17th Oct 2021)”

Income-tax Department’s searches in NCR, Haryana & WB reveal large scale under-invoicing of imports (Ministry of Finance Press Release dated 16 Oct 2021)

The Income Tax Department carried out search and seizure operations on an importer and trader of laptops, mobile phones and peripheral parts. The search operations commenced on 10.10.2021 and were spread across the National Capital Region, Haryana and West Bengal. During the course of the search, several incriminating documents, diaries and digital evidences have been foundContinue reading “Income-tax Department’s searches in NCR, Haryana & WB reveal large scale under-invoicing of imports (Ministry of Finance Press Release dated 16 Oct 2021)”

Income Tax Department’s searches in Maharashtra reveal unaccounted income of over Rs. 184 crore ( Ministry of Finance Press Release dated 15 Oct 2021)

Income Tax Department’s searches in Maharashtra reveal unaccounted income of over Rs. 184 crore ( Ministry of Finance Press Release dated 15 Oct 2021) The Income Tax Department carried out search and seizure operations on two real estate business groups of Mumbai and certain individuals/ entities associated with them. The search operations commenced on 07.10.2021 and haveContinue reading “Income Tax Department’s searches in Maharashtra reveal unaccounted income of over Rs. 184 crore ( Ministry of Finance Press Release dated 15 Oct 2021)”

Income Tax Department conducts searches in Bengaluru (MoF Press Release dated 12 Oct 2021)

The Income Tax Department carried out search and seizure operations in the case of three major contractors based out of Bengaluru engaged in the execution of irrigation and highway projects. The searches commenced on 07.10.2021 have been carried out at 47 premises spread across 4 states. During the search action, it was found that theseContinue reading “Income Tax Department conducts searches in Bengaluru (MoF Press Release dated 12 Oct 2021)”

Cash seizure of over Rs. 142 crore in searches of Income Tax Department in Hyderabad (MoF Press Release dated 09th Oct 2021)

The Income Tax Department carried out search & seizure operations on 06.10.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations. Majority of the products are exported to foreign countries i.e. USA, Europe, Dubai and other African countries.  TheContinue reading “Cash seizure of over Rs. 142 crore in searches of Income Tax Department in Hyderabad (MoF Press Release dated 09th Oct 2021)”

Tax Department conducts searches in Assam, Meghalaya and West Bengal (Ministry of Finance Press Release dated 08th Oct 2021)

The Income Tax Department carried out search and seizure operations on 05.10.2021 in the case of two groups based in the North-East Region and West Bengal. A total of 15 premises were covered in the search action, which was spread across Kolkata, Guwahati, Rangia, Shillong and Patna.   One of the groups is engaged in theContinue reading “Tax Department conducts searches in Assam, Meghalaya and West Bengal (Ministry of Finance Press Release dated 08th Oct 2021)”

Tax Department conducts searches on certain businessmen/middlemen in Maharashtra (Ministry of Finance Press Release dated 07 Oct 2021)

The Income Tax Department carried out a search operation that commenced on 23.09.2021 on a big syndicate involving certain businessmen/middlemen of Maharashtra and some persons holding public offices. The intelligence was developed over 6 months. In all, 25 residential and 15 office premises were covered under the search, while 4 offices were covered under survey.Continue reading “Tax Department conducts searches on certain businessmen/middlemen in Maharashtra (Ministry of Finance Press Release dated 07 Oct 2021)”

Income Tax Department conducts searches in Maharashtra, Karnataka & Uttar Pradesh (MOF Press Release dated 04th Oct 2021)

The Income Tax Department carried outa search and seizure operation on 30.09.2021 on 37 premises spread across multiple cities including Mumbai, Pune, Noida & Bangalore. These groups/individuals were in varied businesses such as cable manufacturing, real estate, textile, printing machineries, hotels, logistics etc. During the course of the search operation, several incriminating documents, loose sheets,Continue reading “Income Tax Department conducts searches in Maharashtra, Karnataka & Uttar Pradesh (MOF Press Release dated 04th Oct 2021)”

Income Tax Department conducts searches in Ahmedabad (Ministry of Finance Press Release dated 02 Oct 2021)

The Income Tax Department carried out search & seizure operations on 28.09.2021 on a real estate developer group and the brokers connected with this group. Total of 22 residential and business premises were covered in the operation. In the case of the real estate developer group, a large number of incriminating documents, loose papers, digitalContinue reading “Income Tax Department conducts searches in Ahmedabad (Ministry of Finance Press Release dated 02 Oct 2021)”

Income Tax Department conducts searches in Maharashtra (MoF Press Release dated 27th Sept 2021)

The Income Tax Department carried out a search and seizure operation on 23.09.2021 on a group of four major Steel Rolling Mills based in Jalna, Maharashtra. These companies are engaged in the business of manufacturing steel TMT bars and billets mostly using steel scrap as raw material. The operation was conducted in more than 32Continue reading “Income Tax Department conducts searches in Maharashtra (MoF Press Release dated 27th Sept 2021)”