Jaipur: The Income Tax Department (I-T) has explored countless income from Rs 300 Crore.
In a statement released on Tuesday, the department stated that the raids were carried out in two groups based in Rajasthan engaged in the business of making goods and money loans, respectively.
According to a source from the I-T department in Jaipur, the attack was carried out on December 22 and around 50 places from two groups located in Jaipur, Mumbai and Haridwar were raided.
“Introduction Analysis of confiscated evidence reveals that some entities, engage in business manufacturing, cable, LED, etc., have sold these items but are not recorded in regular books of accounts.
Also, they claim false costs for Reducing taxable income, “said a senior officer in the IT investigation wing in anonymity.
Transactions that show revenues that are not disclosed more than the RS 150 Crore have been detected.
The key person from the group has recognized and lacks the income of RS 55 Crore and has offered to pay taxes on it, declare the officer.
Evidence related to other income which is not disclosed more than the RS 150 Crore has also been detected in this group, he said.
“We have also confiscated cash and jewelry worth RS 17 Crore from two groups at the raid,” the officer added.