Income-tax department, Government agency

Mumbai, Oct 15 The Income Tax Department, which raided at least 70 premises allegedly linked with Maharashtra Deputy Chief Minister Ajit Pawar and others last week, said it has unearthed proof of unaccounted incomes of around Rs 184 crore, officials said on Friday.The IT Department sleuths had swooped on unnamed two realty companies in Mumbai, and other unidentified individuals/entities associated with them, during the raids simultaneously carried out in Pune and Baramati, as well as in Goa and Jaipur.The sleuths gathered evidence of prima-facie unaccounted and 'benami' transactions, incriminating documents, etc from the two realty groups of around Rs 184 crore.The operations led them to further transactions by the groups through a web of companies which appear to be suspicious, said the department.A preliminary analysis of the flow of funds indicates pumping unaccounted money in the group through dubious methods like introduction of fake share premium, questionable unsecured loans, receipt of unsubstantiated advance for certain services, collusive arbitration deals out of non-existent disputes, etc."It has been observed that such suspicious flow of funds has taken place with the involvement of an influential family of Maharashtra," the ITD said without identifying the concerned family.These funds were further utilised to invest in assets like prime office buildings in Mumbai, a flat in a posh Delhi locality, a resort in Goa, farmlands and investments in sugar mills in Maharashtra, with a total book value of around Rs 170 crore.Besides, the IT Department recovered and seized Rs 2.13 crore cash and jewellery worth Rs 4.32 crore during the raids.Nationalist Congress Party President Sharad Pawar and his nephew Ajit Pawar had slammed the BJP government at the Centre for hounding political opponents by misusing central agencies like the Income Tax Department, the Enforcement Directorate, the Central Bureau of Investigation, the Narcotics Control Bureau, etc, with a new pattern of "targetting relatives" of the politic.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Income-Tax DepartmentFOLLOW

Income-tax department, Latest News

Income Tax Department carried out search and seizure operations on-premises of two groups based in Punjab, informed the Central Board of Direct Taxe (CBDT) on Tuesday. ...

The Income Tax Department carried out a search and seizure operation in the case of a person engaged in the real estate business, primarily operating as a land aggregator in Nashik, informed an official release. ...

New Delhi, Oct 25 The Income Tax Department carried out a search and seizure operation in the case ... ...

The Income Tax Department recently conducted searches on two groups engaged in digital marketing and waste management in several states, the Central Board of Direct Taxes (CBDT) said on Sunday. ...

New Delhi, Oct 17 The Income Tax Department initiated search and seizure operations in two groups based in ... ...

New Delhi, Oct 16 The Centre on Saturday said that the Income Tax Department recently carried out 'search ... ...

The Income Tax Department has carried out search and seizure operations on an importer and a trader of laptops, mobile phones and peripheral parts, the Central Board of Direct Taxes (CBDT) said on Saturday. ...

Mumbai, Oct 15 The Income Tax Department, which raided at least 70 premises allegedly linked with Maharashtra Deputy ... ...