NCR-based Oriental India Group accepts black money worth Rs 3000 crore

New delhi date. December 2, 2019, Monday

A NCR-based real estate group has confessed over Rs 3,000 crore worth of black money. This has come up during the raids by the Income Tax Department. The CBDT (Central Board of Direct Taxes) provided this information on Monday.

CBDT did not release the company's name in its official statement. However, the officials, on condition of anonymity, said that it had raided the premises of NCR-based real estate group Oriental India.

CBDT said in an official statement that raids were being carried out at various places of the group for the past few weeks. The group is active in the infrastructure, mining and real estate business.

CDBT said in its statement that it was raided by the IT department after receiving information about an estimated Rs 250 crore black money in cash ledger. During the raids, the IT department seized the properties. The group has not even paid tax on many property transactions.

The IT department has also seized anonymous assets worth Rs 3.75 crore. The group has confessed to having black money of around Rs 3,000 crore. At the same time, he is talking about paying tax on money. After the raids, the bank's 32 bank lockers have also been sealed.