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The Income-tax Department has conducted search and seizure operations on a group based in Mumbai. The search and seizure action has led to the detection of foreign assets lying with a company registered in tax-haven British Virgin Islands (BVI). Highlights of this search operation include seizure of cash and jewellery worth Rs. 13 lakh and Rs. 7 crores respectively.The Income-tax Department has conducted search and seizure operations on a group based in Mumbai. The search and seizure action has led to the detection of foreign assets lying with a company registered in tax-haven British Virgin Islands (BVI). Highlights of this search operation include seizure of cash and jewellery worth Rs. 13 lakh and Rs. 7 crores respectively.taxmann.com Latest Statutory HappeningsRead More