Pune (Maharashtra) [India], Nov 7 (ANI): The Income Tax Department conducted searches on a business group in Pune on Wednesday under the Income Tax Act, 1961.The searches were conducted at various places covering the cities of Pune, Mumbai, Nagpur, Delhi, Bengaluru and Noida, read a statement from the Central Board of Direct Taxes (CBDT).A total of 28 premises were covered in search action, including 15 under Section 132 and 13 under Section 133A."The group has diversified business activities and provides services in the areas of mechanized house-keeping, landscaping and gardening, civil and electrical maintenance, fabrication services, turnkey solutions, logistic support and other services required by government agencies and municipal corporations," read the statement.The statement added that the search was carried out based on information regarding the claim of bogus losses, bogus purchases and bogus sub-contract expenses.The search and seizure action led to the unearthing of incriminating evidence regarding bogus claim of brought-forward losses of Rs 91 crore pursuant to scheme of demerger which is not found in accordance with the provisions of IT Act, 1961."Bogus expenses in the form of unsubstantiated purchases to the tune of Rs 77 crore have also been detected so far and further verification is in progress," the statement said.Moreover, evidence has been found in respect of cash expenses to the tune of Rs 20 crore and unaccounted cash worth Rs 60 Lakh has been found. Also, several lockers have been foundand put under restraint.Based on evidence unearthed so far, undisclosed income to the tune of Rs 180 crore from AY 2016-17 onwards has been detected, CBDT statement read.Further proceedings are still under progress. (ANI)

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