Rs 70-cr black income detected after Income Tax raids on Karnataka firm

Tribune Web Desk

Updated At : 12:15 PM Nov 04, 2021 IST

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New Delhi, November 3

An Income Tax department raid on a leading construction firm in Karnataka has led to detection of unaccounted income of more than Rs 70 crore some of which was routed through relatives and friends claiming to be subcontractors. The target group has admitted this amount as undisclosed income, said an official news release.

The IT department had carried out the search and seizure operations on a leading group of Karnataka, “engaged in civil construction of roads and irrigation projects”, on October 28 at several locations in north Karnataka. — PTI

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