The Central Board of Direct Taxes conducted a raid on the Kolkata-based real estate and stock broking group. Income Tax Department has detected undisclosed income of Rs 365 crore. CBDT said, total income of Rs 365 crore has been ascertained so far. The companies have so far accepted undisclosed income of Rs 111 crore. After the search, Rs 3.02 crore of unaccounted cash and Rs 72 lakh ornaments were also seized. This action of the Income Tax Department was based on the Department’s database, analysis of financial accounts of these companies and market intelligence. During the investigation, it has also been found that the people of the company group have also been using mask companies to move their own unaccounted amount.
Income tax department raids stock broking company, captures black money of 365 crores
