Income Tax raids on real estate giant Hiranandani Group in Mumbai, other cities
India | March 22, 2022 16:23 ISTI-T's raids are underway at properties linked to Hiranandani Group in Mumbai, Chennai and Bengaluru.
I-T's raids are underway at properties linked to Hiranandani Group in Mumbai, Chennai and Bengaluru.
The tax department had last year conducted searches against Chinese mobile communication and handset manufacturing companies like Xiaomi and Oppo and their linked persons and claimed to have detected alleged unaccounted income worth over Rs 6,500 crore due to violation of the Indian tax law and regulations.
The IT official reached Noida Sector 50 on late Sunday evening. The search operation is still going on and the officials would brief the media once the search operation is over, the source added.
On Sunday, the premises of a former IPS were also searched by the I-T teams in Noida sector 50.
The Income Tax sleuths are conducting raids at properties linked to Ajay Chaudhary, CMD of real estate company Ace Group. The raids are underway at 40 sites in Noida, Agra and Delhi.
Piyush Jain was arrested on Sunday after raids at his residence in Kanpur and residence and factory in Kannauj by the Directorate General of GST Intelligence (DGGI) led to the recovery of about Rs 257 crore in cash, 25 kg of gold and 250 kg of silver.
Samajwadi Party (SP) president Akhilesh Yadav on Tuesday categorically denied any links between his party and Kanpur-based perfume trader Piyush Jain, and mockingly said the BJP got "its own businessman" raided "by mistake".
A Kanpur court on Monday had sent businessman Piyush to 14 days of judicial custody after raids at his residence. Notably, the central agencies last week found out that the Kanpur-based perfume maker had hoarded nearly Rs 200 crore.
The Income Tax team first reached the Anandpuri residence of Piyush Jain in the city along with the currency counting machine. Similar I-T raids were underway at Jain's establishments in Mumbai and Gujarat.
According to sources, the smartphone companies were allegedly violating rules and norms to evade taxes and were on the radar of several probe agencies, including the I-T Department.
The Income Tax Department on Saturday raided the premises of senior Samajwadi Party national secretary and spokesperson leader Rajeev Rai in Mau district of Uttar Pradesh.
SP chief Akhilesh Yadav lashed out at the ruling BJP, alleging it was using central agencies to intimidate the Opposition.
The CBDT said the group engaged in the business of chit fund was running an unauthorised business and all the investments and payouts of more than Rs 400 crore in the last few years were done entirely in cash.
Bollywood actor Sonu Sood reacted after Income Tax Department accused him of financial irregularities worth over Rs 250 crore.
Searches have also established that individuals, as well as shell entities, were used by the group to launder huge funds amounting to more than Rs 40 crore, showing them as loans obtained by media companies.
The searches, so far, have resulted in the detection of undisclosed income of more than Rs. 1000 crore. Unaccounted cash of Rs. 1.2 crore has been seized so far.
The Income Tax department carried out the searches at 28 locations in Delhi, Hyderabad, Mumbai and Pune on premises linked to Phantom Films, Anurag Kashyap, Taapsee Pannu, Vikas Bahl, Madhu Mantena and some executives of talent management company KWAN and also another talent management company.
During the Income Tax department searches, that were carried out at over 30 locations in Mumbai and Pune, including the premises of noted film director Anurag Kashyap, actor Taapsee Pannu, filmmaker Vikas Bahl, and executives of Kwann Talent management, evidence of huge suppression of income by the leading Film Production house compared to the actual box office collections has been unearthed.
Amid these Income Tax raids, Taapsee Pannu and Anurag Kashyap have found support in actress Swara Bhasker and filmmaker Anubhav Sinha.
The Income Tax department's raid continued overnight at properties linked to Bollywood actor Taapsee Pannu and filmmaker Anurag Kashyap in Mumbai and Pune. The I-T sleuths raided the homes and offices of Pannu, Kashyap as well as his partners who launched the now-shuttered production house Phantom Films, according to officials privy to the development said.
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