The Income Tax department detected unaccounted income worth more than Rs 1,300 crore after it recently conducted searches against some individuals who had executed joint development agreements with some Karnataka-based real estate developers, the CBDT said on Thursday.
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The raids were conducted on October 20 and November 2 at about 50 premises in Bengaluru, Mumbai and Goa.
“So far, the search actions have led to the detection of unaccounted income of more than Rs 1,300 crore.
Source: PRESS TRUST OF INDIA
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