Tax department conducted searches on Hiranandani Group
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- By Chetan Kulasri
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- Last Updated on 24 March, 2022
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Press Release, dated 22-03-2022
The Income-tax Department has carried out search & seizure operations on 14.03.2022 in the case of a leading Real Estate Group active in Northern India. The search action covered more than 45 premises in Delhi & NCR, Chandigarh, Ludhiana, Lucknow and Indore.
The key employees/business heads of various projects have stated the group’s modus operandi. They have admitted that the group has generated unaccounted income by accepting ‘on-money’ unaccounted cash from customers who have not been recorded in the regular books of account. Evidence of receipt of such ‘on-money’ exceeding Rs. 3,000 crore has been gathered so far.
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