<span style="color: #222222;">Income Tax Department has conducted a search and seizure operation on a group running the biggest private Multi-speciality Hospital in Srinagar with more than 100 beds. Seven premises including 4 residential premises, all in Srinagar, were covered in the search. The core business of the group includes running of the Hospital, Real Estate and Trading of Household Consumables.<br />'' <br />'' Ministry of Finance in a statement said that the group has made unaccounted property transactions of more than 100 crore rupees in cash since the fiscal year  2013-14 onwards.<br />'' <br />'' The payments and investments made through banking channels by the buyers of plots are also under investigation as prima-facie verification has shown that the investments have not been made using tax-paid income. Thus, taxes will be leviable not only on the seller group but the buyers also, depending on the facts of the cases. The Ministry said, there is substantial default of TDS on almost all purchases and sales of plots.<br />''<br />''Further, the search has also revealed substantial evasion of stamp duty and evidence of various Benami Properties has also been unearthed and seized during the search. Further investigations are in progress.</span>