Tax Dept. conducts search operations on leading group of Pune; detects unaccounted income of more than Rs. 400 crore

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  • Last Updated on 3 December, 2021

Income tax search and seizure; unaccounted income

Press Release, dated 02-12-2021

The Income Tax Department has carried out search and seizure operations on a leading group of Pune, engaged in dairy farming and milk products. The search action covered more than 30 premises spread over 6 cities in India.

Evidence has also been gathered revealing that the assesse group has not maintained properand separate books of account for claiming specific deduction from its taxable income. The search operation has resulted in the seizure of unaccounted cash and unexplained jewellery of about Rs. 2.50 crore while some bank lockers are yet to be operated. The search action has detected unaccounted income of more than Rs. 400 crore.

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