Tax Department Raids Gujarat Realty Firm, Detects ₹ 500 Crore Unaccounted Transactions

The Income Tax Department has detected unaccounted transactions of over ₹ 500 crore after it raided an Ahmedabad-based real estate developer and linked brokers as part of a tax evasion probe, the Central Board of Direct Taxes or CBDT claimed today. “Documents reveal unaccounted income of more than ₹ 200 crore in the hands of the real estate group and also unaccounted income of more than ₹ 200 crore in the hands of the parties recorded in the documents found from the possession of the brokers.” “Overall, the search & seizure operation has resulted in the…

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Gujarat Begins To Cull Birds After Avian Flu Scare

As avian or bird flu reared its head in Gujarat after a decade, the state government sounded an alert and declared a 10-km radius around a poultry facility in Hathijan in Ahmedabad district a ‘regulated zone’ and culled over 1,500 birds till Wednesday afternoon. The government also placed restrictions on movement of poultry, eggs, bird droppings, farm machinery and any other equipment in the said area. The action comes a week ahead of the high-profile global investment summit ‘Vibrant Gujarat’ to be inaugurated by Prime Minister Narendra Modi on January…

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Alkem Labs Jumps 5%; Gujarat Unit Gets USFDA Nod

Mumbai: Shares of Alkem Labs today went up by over 5 per cent after the company said one of its manufacturing plants in Gujarat has obtained establishment approval from US health regulator USFDA. The stock climbed 4.91 per cent to Rs 1,377.75 on BSE. On NSE, it soared 5.16 per cent to Rs 1,379. “Its manufacturing plant at Mandva, Gujarat, has successfully obtained the Establishment Inspection Report from the USFDA. The plant manufactures Active Pharmaceutical Ingredients (APIs) and was inspected by the USFDA in September 2015,” Alkem Labs said in a…

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