The Income-tax Department 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 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.The Income-tax Department 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 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.taxmann.com Latest Statutory HappeningsRead More
