• About Us
  • Our Team
  • Advertising
  • Careers
  • Contact
Sunday, June 1, 2025
  • Login
No Result
View All Result
Navjeevan Express
Advertisement
  • Gujarat
    • Ahmedabad
    • Vadodara
    • Surat
    • Rajkot
    • Saurashtra
    • Kutch
    • Central Gujarat
    • South Gujarat
  • National
    • Andhra Pradesh
    • Rajasthan
    • Maharashtra
    • Pondicherry
    • Tamil Nadu
    • OTHER STATES
  • Politics
  • Business
    • Companies
    • Personal Finance
  • Sports
    • Cricket
    • Hockey
    • Football
    • Badminton
    • Other Sports
  • Entertainment
    • Arts and Culture
    • Theatre
    • Cinema
    • Photos
    • Videos
  • Lifestyle
    • Fashion
    • Health & Environment
    • Food and Beverages
    • Spirituality
    • Tourism and Travel
  • World
  • More
    • Science and Technology
    • Legal
    • Opinion
    • Student’s Corner
    • Youth
Navjeevan Express
  • Gujarat
    • Ahmedabad
    • Vadodara
    • Surat
    • Rajkot
    • Saurashtra
    • Kutch
    • Central Gujarat
    • South Gujarat
  • National
    • Andhra Pradesh
    • Rajasthan
    • Maharashtra
    • Pondicherry
    • Tamil Nadu
    • OTHER STATES
  • Politics
  • Business
    • Companies
    • Personal Finance
  • Sports
    • Cricket
    • Hockey
    • Football
    • Badminton
    • Other Sports
  • Entertainment
    • Arts and Culture
    • Theatre
    • Cinema
    • Photos
    • Videos
  • Lifestyle
    • Fashion
    • Health & Environment
    • Food and Beverages
    • Spirituality
    • Tourism and Travel
  • World
  • More
    • Science and Technology
    • Legal
    • Opinion
    • Student’s Corner
    • Youth
No Result
View All Result
Navjeevan Express
No Result
View All Result
ADVERTISEMENT
Home Breaking News

IT raid on a Gujarat-based group reveals Rs. 100-crore unaccounted income

The CBDT said that the group had received unaccounted money as part of immovable property transactions.

by NavJeevan
4 years ago
in Breaking News, Business, Gujarat, National, taxation
Reading Time: 1 min read
0
0
Income Tax Dept unearths huge tax evasion by media, realty group in Ahmedabad
ADVERTISEMENT

NE NEWS SERVICE
NEW DELHI, NOV 21

The Income Tax Department has detected Rs 100 crore unaccounted income after it recently raided a Gujarat-based company engaged in manufacturing of chemicals and in real estate, the CBDT said on Sunday.

The searches were carried out on November 18 at more than 20 premises located in Vapi, Sarigam (Valsad district), Silvassa and Mumbai.

“…incriminating evidences in the form of documents, diary notings and digital data showing earning of huge unaccounted income by the group and its investment in assets have been seized,” the CBDT said in a statement.

“The evidences clearly indicate evasion of taxable income by adopting various modus-operandi such as suppression of production, use of bogus purchase invoices without actual delivery of the goods to inflate purchases, availing of bogus GST credit, claim of bogus commission expenses, etc,” it said. The Central Board of Direct Taxes (CBDT), that frames policy for the tax department, said that the group received unaccounted money as part of immovable property transactions.

“All these have resulted into generation of unaccounted cash,” the statement said. Documents related to cash transactions and investments in immovable properties and cash loans have also been seized by the taxman, it said, adding 2.5 crore cash and jewellery worth Rs 1 crore was seized during the operation while 16 bank accounts have been frozen, the CBDT said.

“A preliminary analysis of the documents/evidence unearthed during the search has indicated that estimation of unaccounted income is likely to be more than Rs 100 crore,” the statement added.

Tags: IT raidon a Gujarat-based groupreveals Rs. 100-croreUnaccounted Income
ADVERTISEMENT
Previous Post

Future course of action would be taken on Nov 27 meeting, says SKM

Next Post

Work with dedication to gain people’s trust in Cong Govt, Says Ashok Gehlot

NavJeevan

NavJeevan

Next Post
Work with dedication to gain people’s trust in Cong Govt, Says Ashok Gehlot

Work with dedication to gain people’s trust in Cong Govt, Says Ashok Gehlot

Indian Exporters on Amazon Global Selling Gear Up for 2021 Black Friday, Cyber Monday Sales

Indian Exporters on Amazon Global Selling Gear Up for 2021 Black Friday, Cyber Monday Sales

ADVERTISEMENT

Recommended

IIT-M Collaborates with CMCH for Design & Rapid construction of Modular ‘Doffing Unit’ for safe removal of PPE

IIT-M Collaborates with CMCH for Design & Rapid construction of Modular ‘Doffing Unit’ for safe removal of PPE

5 years ago
45 newly-elected RS members take oath; Naidu urges them to uphold rules

Return of NEET Bill by TN Guv: Opposition MPs stage walkout from Rajya Sabha

3 years ago
ADVERTISEMENT

Recent Posts

  • Now, dial 91529 90399 for free animal ambulance service in Ahmedabad: Samast Mahajan
  • Sunday Special: Evening Snack Platter – a desi fusion twist on tempting bites
  • CPL 2025 kicks off in style with grand opening ceremony at SGVP Grounds in Ahmedabad

Category

Select Category

    Contact Us

    Email:
    ne.gowri1964@gmail.com

    Phone:
    9643255068

    Live Visitors

    • About Us
    • Our Team
    • Advertising
    • Careers
    • Contact

    © 2021 all right reserved by Navjeevanexpress.com. Consulted by MediaHives.com

    No Result
    View All Result
    • Gujarat
      • Ahmedabad
      • Vadodara
      • Surat
      • Rajkot
      • Saurashtra
      • Kutch
      • Central Gujarat
      • South Gujarat
    • National
      • Andhra Pradesh
      • Rajasthan
      • Maharashtra
      • Pondicherry
      • Tamil Nadu
      • OTHER STATES
    • Politics
    • Business
      • Companies
      • Personal Finance
    • Sports
      • Cricket
      • Hockey
      • Football
      • Badminton
      • Other Sports
    • Entertainment
      • Arts and Culture
      • Theatre
      • Cinema
      • Photos
      • Videos
    • Lifestyle
      • Fashion
      • Health & Environment
      • Food and Beverages
      • Spirituality
      • Tourism and Travel
    • World
    • More
      • Science and Technology
      • Legal
      • Opinion
      • Student’s Corner
      • Youth

    © 2021 all right reserved by Navjeevanexpress.com. Consulted by MediaHives.com

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In