The income tax (I-T) department carried out a search and seizure operation last week in the case of a person engaged in the real estate business, primarily operating as a land aggregator in Nashik.
During the operation, many incriminating documents including land agreements, notarised documents and other papers evidencing large-scale cash transactions for acquisition of properties have been found and seized, according to a statement issued in Pune. So far, unaccounted cash of Rs 23.45 crore has been seized.