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Gurgaon I-T Raids Yield Rs.600 crores Income

Unaccounted income of Rs. 600 crores were detected after the income tax department recently raided two business groups based in Gurgaon, the CBDT said on Monday.

The searches were carried out on November 10 on the groups, one engaged in real estate and hospitality, and the other a tools and equipment manufacturing group, the department said.

“The search action on these groups has led to the detection of estimated unaccounted income to the tune of Rs. 600 crores,” the Central Board of Direct Taxes (CBDT) said.

 Nearly Rs.3.54 crores in cash and Jewellery worth Rs.5.15 crores were seized while 18 bank lockers have been placed under restraint, the policy-making body for the tax department said.

The CBDT did not identify the entities raided. S-ET

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