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Rs 3,000-crore blackmoney found in realty company

Rs 3,000-crore blackmoney found in realty company
Highlights

An undisclosed income of over Rs 3,000 crore has been 'admitted' by a NCR-based real estate group after the Income Tax department raided it recently,...

New Delhi: An undisclosed income of over Rs 3,000 crore has been "admitted" by a NCR-based real estate group after the Income Tax department raided it recently, the CBDT said in a statement on Monday.

CBDT did not identify the firm, officials sources claimed it to be the Oriental India Group. Last week, searches and surveys were conducted at over 25 premises of the group that has interests in infrastructure, mining and real estate, according to the statement.

"Cash ledgers containing details of unaccounted cash receipts of more than Rs 250 crore have also been found and seized. The group also did not pay taxes on several property transactions.

Unaccounted assets of Rs 3.75 crore have been seized. The group has admitted undisclosed income of more than Rs 3,000 crore and agreed to pay tax on the same," the statement said.

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