Income Tax

Income Tax Department conducts searches in Bhopal

Income Tax Department conducts searches in Bhopal

Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
 
New Delhi, 21st August, 2020

Income Tax Department conducts searches in Bhopal

PRESS RELEASE
 
The Income Tax Department carried out a search and seizure operation on 20.08.2020 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. 105 crore have 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. 1.8 crore have been seized.
 
Further, documentary evidence gathered during the search operation indicates partnership/association with some retired government servants and holding of their benami properties. Investigations are still in progress.
 
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
Share
Leave a Comment

Recent Posts

  • Income Tax

ITAT allows exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees

ITAT allowed increased exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees in view of CBDT retrospective notification. In…

19 hours ago
  • Income Tax

PCIT has revisionary jurisdiction u/s 263 over the cases passed by the NFAC or the JAO

PCIT has revisionary jurisdiction u/s 263 over the cases irrespective of the fact that the relevant assessment was completed physical…

1 day ago
  • Insurance

Appellate court interfering with MACT finding must undertake reappreciation of evidence

Appellate court interfering with Motor Accidents Claims Tribunal findings on assessment of disability and loss of earning capacity must undertake…

2 days ago
  • Income Tax

When delay is not huge & involves huge monetary liability, lenient approach to be taken

When period of delay is not very huge and involve huge monetary liability on the assessee, a lenient approach should…

2 days ago
  • SEBI

EoGM of company can not ratify diversion of fund raised by preferential issue – SC

Ratification by EoGM of the company can not give legality of the diversion of the fund raised by preferential issue.…

3 days ago
  • Excise/Custom

Return of export cargo from Hormuz Strait where vessel do not lands at original port

CBIC prescribes procedures for return of export cargo from international waters due to closure of the Strait of Hormuz where…

3 days ago