Income Tax department searches on Real Estate firms detect Rs 800 cr

Insight Online News

Hyderabad, Jan 11 : The Income Tax department searches on three real estate firms in Telangana and Andhra Pradesh recently have led to the detection of unaccounted transactions worth of Rs 800 crore.

During the searches, Rs.1.64 crore unaccounted cash besides incriminating documents were also seized, according to sources.

The three firms, where the IT searches were conducted, have engaged in land development business and construction in the two Telugu states.


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