Tax Dept. conducts search and seizure operation in Gujarat; unaccounted income of more than Rs. 100 crore unearthed

Press Release, dated 21-11-2021

The Income-tax Dept. has carried out a search and seizure operation on a prominent group engaged in manufacturing of chemicals and development of real estate. The search action covered more than 20 premises spread over Vapi and Sarigam in Gujarat, Silvassa and also in Mumbai.
A large number of 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 found and seized. 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.

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