Income Tax Department has detected huge black money transactions in a search operation on a cable operator of Mumbai and a Maharashtra State Govt employee.
A total of 26 premises spread over Mumbai, Pune, Sangli and Ratnagiri were covered, according to information provided by the Income Tax Department.
Evidence found during the search has revealed that the construction of a resort started in 2017 and more than Rs 6 crore was spent in cash on construction of the resort which has not been accounted for. The land was bought from a prominent politician of the state.
The search in the case of the State Government official has revealed that he, his family members and relatives have amassed huge wealth in the form of properties at prime localities at Pune, Sangli and Baramati, over a period of last ten years.
The family owns one bungalow and one farm house in Pune, one lavish farm house in Tasgaon, two bungalows in Sangli, two commercial complexes having Tanishq and Carat lane showrooms, five flats in different locations of Pune, one flat in Navi Mumbai, vacant plots in Sangli, Baramati, Pune and more than 100 acres of agricultural land acquired during the past seven years.
It is found that the construction business, being run by the relatives of the employee, received many contracts from the State Govt. Search operation has also unearthed evidences of inflation of contract expenses through bogus purchase and bogus sub-contracts aggregating to Rs. 27 crore.
Detailed examination of sources of acquisition of the properties and the amounts spent on the lavish interiors of shops and bungalows is under progress. The family owns many businesses including showrooms of electronic products, Tanishq showrooms, civil construction business, real estate and pipe manufacturing business.
Evidence regarding unaccounted cash receipt of Rs. 2 crore in sale of land at Baramati has also been detected. Further investigation with regard to the tax evasion in construction business, is under progress.
As a result of the search action, cash of Rs. 66 lakh has been seized. Digital data and documentary evidence seized during the search operation is being further analysed and further investigations are in progress.
Also read: Rs 600 crore in black money detected from Mumbai-based online betting firm
