I-T raid on Amprapali, Paras yields Rs 26.5 cr


New Delhi: The income tax department on Thursday conducted raids on two real estate firms—Paras and Amrapali group—seizing over Rs 26.5 crore cash. The unaccounted cash could turn out to be higher as some lockers of the companies are yet to be opertated.

With search and survey operations conducted at 44 locations all across the country, it took Central Board of Direct Taxes (CBDT) about 240 tax officials to conduct the searches. The premises of both the companies in Delhi and NCR and three locations in Uttar Pradesh were searched, senior tax officials said.

While, income tax department sleuths recovered Rs 22.38 crore from residential premises of Paras, it recovered Rs 4.17 crore from the premises of Amrapali Group. The Amrapali group’s seizure includes unaccounted Fixed Deposit Reciepts worth Rs 2 crore.

Paras group’s 12 and 9 premises were searched by the tax department and Amrapali’s 14 and 9 premises were raided.Paras group is mainly involved in dairy business but has also diversified in reality, retail and hospitals. The reality business is carried out by Pras Buildtech and the group’s hospital business is managed by Pras Health Care.

Amrapali group is in the reality business with many residential projects under way.

[Story Source] [Contest win Rs 1000-100,000 now]

This post was submitted by Mudit Agrawal.

Related Posts
Switzerland to Hinder Tax Cheats

Switzerland to Hinder Tax Cheats

ZURICH—Switzerland said it will make it easier for foreign governments to hunt for tax cheats with Swiss bank accounts, amid continuing criticism that it still does too little to assist international ...
Govt to SC: Will tax black money

Govt to SC: Will tax black money

The Centre has informed the Supreme Court that black money stashed in tax havens abroad would be taxable income under the Direct Taxes Code Bill. It however, maintained its earlier stand on not reveal...
Jet Air Q3 net up but misses estimate; shares slip

Jet Air Q3 net up but misses estimate; shares slip

Jet Airways India, India's largest private carrier, on Wednesday reported lower-than-expected 11.3 percent rise in Oct-Dec net profit, sending its shares down as much as 3.6 percent.The limited growth...
Katrina Kaif breaks down as income tax officers search her home

Katrina Kaif breaks down as income tax officers search her home

Income tax (I-T) officials on Monday searched the homes of Bollywood actresses Priyanka Chopra and Katrina Kaif for suspected tax evasion. Twelve places in the western suburbs, including the residence...
India looking into tax liability in Kraft’s Cadbury deal

India looking into tax liability in Kraft’s Cadbury deal

The ministry of finance has initiated action to see if Kraft Foods will have to pay taxes to Indian authorities in its USD 19 bn takeover of Cadbury last year, as claimed by a public interest petition...
Tax officials to keep a close watch on IPL auction proceedings

Tax officials to keep a close watch on IPL auction proceedings

Enforcement and tax officials will keep a close watch on the proceedings of players auction for IPL-4 which will see as many as 350 top cricketers from India and abroad go under the hammer in Bangalor...

Leave a Reply

We will keep You Updated...
Get Free Email Newsletter from VoteUpIndia Sign up for our free email newsletter. (Help?)
Read latest headlines in your favorite news reader
Follow VoteUpIndia  on Twitter Become a VoteUpIndia Fan on Facebook Subscribe to VoteUpIndia in Google Reader Add VoteUpIndia  to My Yahoo Add VoteUpIndia  to Netvibes Subscribe to Free Techie Buzz RSS Feed
Sponsored Links
Featured Video
Best Storytellers
Powered by Authors Widget
Recent Posts

McDonald's Suspends Employee, Probes Child's Eviction From Pune Outlet

PUNE: After reports emerged that an eight-year-old destitute child was thrown out of an outlet of...

Why Arjun Made a Humble Request to Cast Sonakshi in Tevar

It's all about wearing your Tevar, this new year. Arjun Kapoor looked dapper at the initial promotions...

5 things Modi needs to do ASAP, after Bihar loss

It's not correct to transpose the outcome from a state election as a referendum on the central government,...

Sehwag's half century in All Star tournament.

The first match has been really special. We thoroughly enjoyed being here. New York, you were brilliant....

Bihar Defeat May Lead to Silent Rebellion in BJP Against PM, Amit Shah: Arun Shourie to NDTV

NEW DELHI: In the aftermath of the BJP's debacle in Bihar, Arun Shourie, one time admirer of Narendra...

Court Refuses to Stop Gillette Razor Ad Starring Deepika Padukone

New Delhi: The Delhi High Court has refused to stop a Gillette razor advertisement starring Deepika...

Bigg Boss 9: Roopal Tyagi voted out of the house

TV actor Roopal Tyagi was evicted from reality show Bigg Boss on Sunday’s episode. Roopal is the...
Recent Comments
How i can submit my story...? and where i can see the staus of votes for this?
IFFI lose its art value,so it became lose it commercial value
Dear sir I am sending an article which is based on true story and needs your help to lime light such incidents which never come in
Thanks for the interesting article. Great Post. Keep it up
It is indeed heartening to learn that LSE, the world leader in higher education, will join hands with the most admired Reliance Foun
Tag Cloud