New Delhi, August 11
The Central Board of Direct Taxes (CBDT) today said income tax (IT) sleuths had detected “unaccounted” income of over Rs 150 crore after they recently raided a Jaipur-based group engaged in the business of gems and jewellery, hospitality and realty.
Without naming the business entity that was raided on August 3 by the tax sleuths, the CBDT, in an official statement, said over 35 premises of the group in Jaipur and Kota districts of Rajasthan were covered. It said the officials had seized “unaccounted assets” of over Rs 11 crore so far. It further said in the real estate business vertical, the tax officials found that the group had been “indulging in large-scale tax evasion by accepting cash on the sale of residential dwellings and land which had not been recorded in the regular books of account.” Evidence pertaining to out-of-books sale of gems and jewellery was also unearthed during the search, it added.