« Top Headlines » Open DEMAT Account in 24 hrs  Union Budget 2026: Will Real Estate Get Affordable Housing, Rental Policy & Home Loan Tax Relief? «  Short sales tax angle: CBDT wants system in place first... States should be given power to levy service tax... » I-T Deptt detects tax evasion of over Rs.100 crore during surveys February, 09th 2008 Income Tax Department had recently carried out a search operation against a group of Gurgaon engaged in development of real estate and running a private airline. On the basis of evidence collected during that search, surveys were subsequently conducted by the Department at 11 different locations in Delhi, Mumbai and Gurgaon on two leading groups of builders having close business connections and transactions with the group searched earlier. On the basis of evidence collected during these surveys, the two groups of builders admitted to unaccounted income of Rs.63 crore and Rs.31 crore, respectively. During the course of survey at another builders premises huge amount of cash was found. As a result, search was also conducted at the residence of its directors and cash amounting to Rs.2 crore was seized. This builder also admitted unaccounted income of Rs.10 crore. BSC/SS/GN-31/08