Press Release, dated 22-01-2021
The Income-tax Department has carried out search and seizure operation on 17-02-2021 on a group based in Sangamner, Pune at 34 different locations across Maharashtra. The group entities are largely engaged in the packaging and sale of tobacco and related products, generation and distribution of power, sale of FMCGs, and real estate development.
The search action has revealed unrecorded cash sale transactions amounting to Rs. 243 crore. Total undisclosed income amounting to Rs. 335 crore has been detected so far as further investigation is in progress.
In another case, an operation was carried on 18-02-2021 at 22 premises of a Betul based Soya products manufacturing group at Betul and Satna in M.P., Mumbai and Solapur in Maharashtra and Kolkata. The group has introduced unaccounted income to the tune of Rs. 259 crore by way of introduction of Share capital at a huge premium from Kolkata based shell companies. From the investigation so far, undisclosed income over Rs. 450 crore has been detected.