Rs 224 Crore Unaccounted Income Found In Raids At Unicorn Start-Up Group
NDTV
The searches were carried out on March 9 at 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh.
The Income Tax department has detected undisclosed income of about Rs 224 crore after it recently raided a unicorn start-up group based in Pune and Thane in Maharashtra, the CBDT said on Sunday.
The searches were carried out on March 9 at 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh.
The group is engaged in wholesale and retail of construction materials and has a pan-India presence with an annual turnover exceeding Rs 6,000 crore, the Central Board of Direct Taxes, the policy-making body for the tax department, said in a statement.
Unaccounted cash worth Rs 1 crore and jewellery worth Rs 22 lakh have been seized till now, it said.
