In a massive crackdown, the Income Tax Department in Faridabad, Haryana, has uncovered undisclosed assets worth ₹125 crore. This four-day operation exposed widespread tax evasion and hidden wealth across multiple sectors.
In Faridabad, Haryana, an Income Tax Department raid turned over ₹125 crore in unreported assets. The massive four-day operation turned up hidden riches and extensive tax cheating.
Mega IT Raid Yields Cash, Gold, Silver, and Jewels
In addition to a sizable cache of gold, silver, and diamond jewelry, the department found cash totaling over ₹22 crore during the operation. Thus far, investigations have uncovered about ₹125 crore in unreported revenue, and this figure is likely to increase.
The Income Tax Department in Faridabad, Haryana, conducted a raid and found undisclosed assets valued at Rs 125 crore.
Details of the Four-Day Operation
Beginning Wednesday morning and lasting until late Saturday evening, the Income Tax Department simultaneously raided about 50 properties owned by four businesses, a private security firm, builders, and school operators. Both residential and commercial buildings were the subject of the examinations.
About 50 department teams reportedly carried out concurrent raids at different sites to make sure that no one had a chance to delete documents or digital evidence. Suspicious documents, computer data, and transaction and bank account information were confiscated during the raids. While jewelry was examined under the guidance of professionals, cash counting machines were brought in at various locations.
Targeted Properties and Surveillance
The Modern DPS School, Shreeji Energy, Rani Electrode, Bhagwati Coloners, and Auric Builders properties in Sector 81, Greater Faridabad, were the targets of the Income Tax Department’s operation. According to department sources, there has been long-term surveillance of these organizations’ and companies’ operations. Only after obtaining reliable information was such a significant step followed.
Numerous investments were made in benami names, according to preliminary findings. There has also been proof of tax avoidance through underreporting of real income. It is suspected that some transactions were carried out via shell corporations.
Undisclosed Income and Next Steps
Officials from the Income Tax Department say they have found around ₹125 crore in unreported income so far. We are looking at digital records and documents. Following the conclusion of the inquiry, the parties involved will be subject to tax assessment, interest, fines, and legal action.
💰 Faridabad IT Raid Highlights
- Duration: Four days
- Cash Seized: ₹22 crore
- Assets Found: Gold, Silver, Diamonds
- Locations Raided: 50 properties
- Entities Targeted: Schools, Builders, Companies
- Undisclosed Income: ₹125 crore (and rising)
⚖️ Ongoing Investigation & Legal Measures
- Evidence Seized: Documents, Digital Records, Bank Statements
- Benami Investments: Many detected
- Shell Companies: Suspicious transactions ongoing review
- Next Steps: Tax assessment, interest, fines, and legal action
- Authorities: Income Tax Department, Faridabad
Frequently Asked Questions
1. What is the total value of assets found in the Faridabad IT raid?
The Income Tax Department has discovered undisclosed assets valued at ₹125 crore, including cash, gold, silver, and diamond jewelry.
2. How many properties were raided during the operation?
Approximately 50 properties belonging to schools, builders, companies, and a private security firm were simultaneously raided.
3. Were any illegal methods like benami investments detected?
Yes, preliminary findings indicate that numerous investments were made in benami names, and some transactions were suspected to involve shell companies.
4. What was the duration of the Faridabad IT raid?
The operation lasted four days, beginning Wednesday morning and concluding late Saturday night.
5. What are the next steps for the authorities?
The Income Tax Department will continue examining documents and digital records. Following the inquiry, tax assessment, fines, interest, and legal actions will be initiated.
Disclaimer: This article is based on official reports and preliminary findings from the Income Tax Department. The investigation is ongoing, and details may be updated as more information becomes available.
