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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