I-T Department detects ₹300-crore black income after raids on Maharashtra-based steel rolling companies
The Hindu
A statement from CBDT said “unaccounted” cash of more than ₹2.10 crore and jewellery worth ₹1.07 crore have also been seized.
The Income Tax Department has detected unaccounted income of over ₹300 crore following raids on a group of four major steel rolling mills based in Maharashtra, the Central Board of Direct Taxes (CBDT) claimed on Monday.
The searches on the business groups, engaged in manufacturing steel TMT bars and billets mostly using steel scrap as raw material, were conducted on September 23 on 32 premises located in Jalna, Aurangabad, Mumbai, Pune and Kolkata.
“Evidence detected so far indicates that unaccounted income is likely to exceed ₹300 crore and the four companies have already disclosed additional income to the extent of ₹71 crore consequent to the search,” the CBDT said in a statement.
Chinnaiah remains in prison despite bail granted, pending sureties for his release in the Dharmasthala perjury case.
Discover why flooring is the focal point of modern home design, blending aesthetics, comfort, and durability in Indian interiors.
Telangana Revenue Minister highlights HILTP's origin during BRS regime, criticizing KTR's land use decisions
Women in Nagapattinam rally for safety and stronger protections, demanding justice and welfare measures during the global activism campaign.
Quack A. Venkatesan arrested in Chennai for operating an unauthorized ayurvedic hospital and prescribing allopathic medicines without training.
ED attaches ₹1,120 crore in assets linked to Reliance Home Finance fraud, raising total attachments to ₹10,117 crore.
Tamil Nadu Minister T.R.B. Rajaa accuses BJP of inciting riots, undermining Madurai's progress amid ongoing investment efforts.
Apart from fine performances from Mammootty and Vinayakan, mind games and character dynamics propel Jithin K Jose’s 'Kalamkaval', a slow-burn thriller
In Celestial Company, an ongoing exhibition in the city, throws light on the often ignored aspects of the divine
Explore the enduring legacy of 'Madurai' Mani Iyer, where music and culinary artistry harmoniously intertwine in Mayiladuthurai.
Retired judges and lawyers urge CJI Surya Kant to uphold constitutional rights for Rohingya refugees amidst controversial remarks.
Join Apar Gupta in the In Focus Podcast as he discusses India's Sanchar Saathi app and concerns over consent and privacy.
Telangana Government plans affordable housing for middle-class families, identifying four locations for 10,000 new homes each.