the goan I network
PANAJI
Sleuths of the Income Tax Department conducted search operations and seized undisclosed assets worth Rs 4.39 crore earlier this week on Thursday at the premises of two hotel groups, one from Goa and the other from Delhi, who were involved in a recent sale-and-purchase deal of a hotel reportedly worth nearly Rs 150-crore.
I-T Commissioner Surabhi Ahluwalia said in a statement that one of the groups owns a large property in Goa on which a 5-star hotel project is under construction.
Ahluwalia, who is the official spokesperson for the Central Board of Direct Taxes said in his statement issued on Saturday that the Goa group is primarily involved in hotels and hospitality, real estate and construction.
The Delhi group which is the buyer in the hotel deal, is into catering, restaurants and hotel businesses, Ahluwalia said. His statement however did not identify the two firms and also did not provide any information as to the name or location of the hotel involved in the sale-and-purchase deal which prompted Thursday’s searches by the income tax department’s sleuths.
The search operations have concluded, Ahluwalia said, adding that undisclosed assets worth Rs 4.39 crores including Rs 2.55 crore in cash were seized. The seizures also included jewellery and other valuables worth Rs 1.84 crore.
The CBDT spokesperson said the groups made disclosures of “undisclosed income to the tune of Rs 124.41 crore and has pledged to pay the applicable taxes immediately.
Meanwhile, Goa’s hotel industry captains declined to speak on record about any recent transaction of hotel sale anywhere in the State.
One hotelier however told The Goan that he was in the know of sale of at least two medium hotels in the Calangute-Baga-Arpora belt.Groups made disclosures of “undisclosed income to tune of Rs 124.41 crore and has pledged to pay applicable taxes immediately
One of the groups involved currently owns a large property in Goa on which a 5-star hotel project is under construction
I-T Commissioner undisclosed assets worth Rs 4.39 crores including Rs 2.55 crore in cash were seized
Seizures also included jewellery and other valuables worth Rs 1.84 crore
