INSUBCONTINENT EXCLUSIVE:
The income tax department has raised the premises of Omaxe real estate groupNew Delhi: The income tax department has gathered "evidence"
that real estate group Omaxe allegedly indulged in "unaccounted" cash transactions with customers to the tune of over Rs 3,000 crore,
officials said on Tuesday.The Central Board of Direct Taxes (CBDT) issued a statement saying that it raided the premises of a leading real
estate group active in north India on March 14."The search action covered more than 45 premises in Delhi and NCR, Chandigarh, Ludhiana,
Lucknow and Indore," the statement issued by the policy-making body for the tax department said.Officials identified the searched group as
digital data have been seized during the search
The seized evidences contain unaccounted 'on-money' cash receipt data of the group from various customers for more than 10 years," it
group has generated unaccounted income by accepting 'on-money' (cash) "unaccounted" cash from its customers which have not been recorded in
the regular books of account, the CBDT claimed."Evidence of receipt of such on-money exceeding Rs 3,000 crore has been gathered so far," it
