The income tax department carried out a search on the premises of the promoters of a private multi-specialty hospital in Srinagar and claimed to have unearthed details of property purchases worth Rs 100 crore allegedly using black money.

The unaccounted cash was generated from receipts in the hospital where the turnover offered for taxation was not more than Rs 10-20 crore as against the net receipt of more than 40-50 crore annually, the tax department said. The promoters were suppressing actual income and investing unaccounted cash in the purchase of properties since 2013-14, it added.