Press Esc to close
Wednesday 25 May 2016
News updated at 2:57 AM IST
Weather
Max: 34.1°C
Min : 22.7°C
In Bengaluru
Sunny day

Rajkot-based Group admits undisclosed income of Rs 40 crore to I-T

Last updated: 14 September, 2011
Ahmedabad, Sep 13 (PTI)

Rajkot-based Galaxy Group, owned by BJP leader Kiran Patel, has admitted undisclosed income of around Rs 40 crore to the Income Tax department, official sources said on Tuesday.

The I-T department had launched a search and seizure operation on the Group on September 8, covering its 30 premises in Ahmedabad and Rajkot. The Group owns educational institutes and is engaged in manufacturing of engineering goods besides dealing in real estate business and film distribution.

"A total of 30 premises of the Group in Ahmedabad and Rajkot were searched during which they have admitted undisclosed income of Rs 40 crore," I-T sources said.

"In the operation, Rs 1.50 lakh unaccounted cash and jewellery valued at Rs 18.78 lakh were seized, and 15 bank lockers belonging to the Group have been sealed," they said.
Besides, a large quantity of incriminating documents, pointing towards tax evasion by the business entity, were seized, they said.

Patel had unsuccessfully contested the 2009 Lok Sabha election from Rajkot constituency.


Go to Top

Photo Gallery
Girls cover themselves during a dust storm in mathura on Monday...

Girls cover themselves during a dust storm in mathura on Monday...

Renowned sand artist Sudarsan Pattnaik creates a sand art to aware people about water scarcity...

Renowned sand artist Sudarsan Pattnaik creates a sand art to aware people about water scarcity...

English actor Sir Ian McKellen and Bollywood actor Aamir Khan share lighter moments...

English actor Sir Ian McKellen and Bollywood actor Aamir Khan share lighter moments...

A senior Army Officer presents the Sher-e-Kashmir Sword of Honour to a new recruit...

A senior Army Officer presents the Sher-e-Kashmir Sword of Honour to a new recruit...

People watching the air ambulance which crash landed at Kair village in Najafgarh area...

People watching the air ambulance which crash landed at Kair village in Najafgarh area...

Demi Moore poses for photographers as she arrives for The Vogue 100 Gala Dinner...

Demi Moore poses for photographers as she arrives for The Vogue 100 Gala Dinner...

Nuremberg and Frankfurt players jump for the ball during a German first division Bundesliga soccer..

Nuremberg and Frankfurt players jump for the ball during a German first division Bundesliga soccer..

People hang fish to dry on bamboo poles in Mumbai...

People hang fish to dry on bamboo poles in Mumbai...

A cyclist with his daughter pedals his cycle holding an umbrella...

A cyclist with his daughter pedals his cycle holding an umbrella...

An elderly vendor waits for customers of green grass during rains in Srinagar....

An elderly vendor waits for customers of green grass during rains in Srinagar....

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523