Income Tax Department carried out search and seizure operations in border districts of Rajasthan and detected total unaccounted income exceeding Rs 50 crore.
The operation, on October 28, covered 33 premises at different locations, where the groups are carrying on the business of real estate, sand-mining and liquor trade.
During the course of the search, documentary evidences were found and seized indicating receipt of unaccounted cash as well as utilisation of the same towards the purchase of land. Further, documentary evidence of cash sales of sand has been found and seized. The analysis of the same reveals that part of these cash sales has not been recorded in the books of accounts, said the Ministry of Finance in a statement.
The search operation has resulted in the seizure of unaccounted cash of Rs 2.31 crore and unexplained jewellery worth Rs 2.48 crore.
The search action has led to the detection of total unaccounted income exceeding Rs 50 crore. Out of the above, the assessees have admitted unaccounted income exceeding Rs 35 crore and offered to pay due taxes on the same, read the statement.
Further investigation is in progress.
( With inputs from ANI )
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