Rs. 1,000 crore unaccounted transactions detected: IT department on searches at media and real estate group

Ahmedabad: The Income Tax (I-T) Department has detected unaccounted transactions of Rs 1,000 crores during a raids at a media and real estate group in Ahmedabad on 8th September.

The I-T Department in a press release regarding searches at Sambhav group without naming the group said that documents, digital proofs and documents of unaccounted transactions of Rs 1 thousand crores from computers and pen-drives were found during the raid. The I-T Department has sealed 14 bank lockers of the company and seized jewellery worth Rs 2.70 crores. The I-T department raided a total of 20 premises of the group. The I-T Department suspects that Rs 500 crores cash from the sales of TDR (Transferable Development Rights), Rs 350 crores from real estate on money and Rs 150 crores cash as loan are received by the group.

A Total 125 I-T department officials and 70 to 80 police had jointly undertaken this operation. DeshGujarat

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