I-T Department detects ₹1,050 crore transactions during searches in Maharashtra
The Hindu
‘Funds involved cash paid by bureaucrats for key postings and the cash transferred by contractors for getting payments released’
The Income Tax (I-T) Department searches on a big syndicate involving certain businessmen and middlemen in Maharashtra and some persons holding public offices have led to the detection of transactions to the tune of ₹1,050 crore.
According to the agency, the funds in question involved the cash paid by bureaucrats for key postings under a certain Ministry and the cash transferred by the contractors for getting payments released. The I-T Department has not disclosed the names of the individuals concerned.
The operation was launched on September 23, based on the intelligence developed over the past six months. The agency covered 25 residential and 15 office premises. Surveys were also carried out at four offices.