I-T search, seizure on MLM group

The Income Tax Department on Friday conducted a search and seizure operation on an Ahmedabad-based group involved in sale of plotted land and multi-level marketing.

During the operations five residences were searched spread over Ahmedabad, Vadodara and Kolkatta wherein one office premise at Ahmedabad was also searched while a few other office premises spread over Ahmedabad, Rajkot and Kolkatta were simultaneously surveyed, an official communique from the department stated.

During the search and survey operations incriminating documents pertaining to unaccounted payments relating to land transactions have been found. Examination of the documents seized and impounded during the course of operations is in progress and further enquiries as necessary are being conducted.