Investigation wing of Income Tax Department uncovered an unaccounted income of over Rs. 158 Crores including large amounts of cash and few vital documents, during the Income Tax Raid conducted on three renowned business groups of the city this week.
Recovery includes huge amount of cash amounting to a few crores, few documents related to properties and real estate owned by the group. Recovered cash and documents have been surrendered, informed Deputy SP IT Bhera Ram Choudhary.
According to Choudhary, around 36 IT teams conducted a number of raids at 36 establishments and firms owned by the 3 groups. In what has been termed as the largest IT raid and the largest recovery, these teams executed their task under the leadership of Arvind Modi, IG Investigation Wing of Income Tax department, Virendra Singh Add.SP IT and Raghuveer Singh Dagur.
More than 22 IT team including team members from Jodhpur, Jaipur, Ajmer, Bikaner, Ganganagar, Alwar, Kota and Udaipur conducted the raids at Udaipur, 7 teams raided the offices at Jabalpur and Katni, 3 teams went to Mumbai, 2 teams visited various offices and institutes of the business groups at Bangalore where as one of the teams inspected the offices and companies at Ahmedabad and Surat, Choudhary said.
The IT raids, which continued for 3 days is considered to be the biggest IT raid of the city as before this an unaccounted income of around Rs. 130 Crores had been discovered during the IT raid conducted at leading business group dealing in tobacco products, Bhera Ram added.