Unaccounted Rs 150 Crore Transactions Uncovered

14 Nov 2024 CW Team

In a recent investigation in Gujarat, the Income Tax (I-T) Department uncovered unaccounted transactions amounting to Rs 150 crore linked to prominent real estate builders. The search operation revealed evidence of tax evasion through undisclosed financial dealings, with the builders allegedly engaging in transactions that bypassed proper documentation. This discovery highlights the ongoing issue of black money and non-compliance within the real estate sector, particularly involving high-value transactions that often go unchecked.

The I-T Department’s efforts are part of a broader crackdown on illicit financial practices in the real estate industry, aiming to ensure transparency and enforce tax regulations. Builders involved in such transactions could face severe penalties, including fines and potential legal actions, depending on the scope of their violations. The findings could lead to further scrutiny of the sector, urging more stringent compliance measures from builders and other stakeholders in the real estate market.

Real estate has often been associated with the flow of unaccounted money, with off-the-books transactions being a significant challenge for regulators. This recent search serves as a reminder of the importance of maintaining financial integrity within the industry, as well as the need for robust monitoring and enforcement to curb such practices. For the builders in question, this investigation may not only affect their operations but could also result in damage to their reputation and trust with investors, regulatory bodies, and the public.

Infrastructure Transport

06 May 2026

Pune To Build Nine Km Link Road Between Highways

The Pune Municipal Corporation (PMC) has decided to appoint an expert to plan the development of a nine km long, 60 metre wide road from Khadi Machine chowk to Wadki chowk as an extension to the Katraj-Kondhwa road to link the Mumbai-Satara and Pune-Solapur national highways. The scheme is intended to divert heavy vehicle traffic away from the city and improve access between the two arterial routes. The project has been prioritised by the PMC and forms part of a larger set of schemes in which 19 roads have been identified for development at a combined cost of Rs 9.82 billion (bn) to address c..

Barabanki Bahraich Six Lane Highway Approved in Uttar Pradesh

The Uttar Pradesh government has approved construction of a new six-lane highway linking Barabanki and Bahraich as part of National Highway 927, and the cabinet has cleared the project. The alignment will pass through Mustafabad and Kaiserganj and extend for about 101.5 km, creating a key corridor for local and long-distance movement. The National Highways Authority of India will oversee the work and has signalled the scheme is intended to strengthen regional connectivity and cross-border access to Nepal. The project carries an estimated total cost of Rs 69,690 million, equivalent to Rs 69.69..

Toll At Kharegaon Likely As Highway Upgrade Nears Completion

A section of the highway at Kharegaon has undergone an upgrade and is approaching completion, and authorities have indicated plans for a toll to be introduced once works finish. The project has focused on strengthening the carriageway, improving drainage and upgrading intersections to enhance safety and capacity. Officials have said the toll will be used to recover construction costs and fund ongoing maintenance. The upgrade included resurfacing of the pavement, widening of certain stretches and installation of modern signage and lighting to reduce accident risk. Contractors completed most ma..