Rs 50 Crore In Black Income Detected After Tax Raids In Rajasthan
NDTV
Documentary evidence found and seized indicated the receipt of unaccounted cash and its utilisation to purchase land, the Income Tax Department said.
The Income Tax (I-T) department has detected unaccounted income of over Rs 50 crore after raids on sand mining, liquor, and real estate businesses in the border towns of Rajasthan, the Central Board of Direct Taxes (CBD) said on Thursday. On October 28, 33 premises were raided, it said.
"Documentary evidence was found and seized, indicating the receipt of unaccounted cash as well as the utilisation of the same towards purchase of land.
"Evidence of cash sales of sand has been found... the analysis of the same reveals that part of these cash sales has not been recorded in the books of accounts," the CBDT said in a statement.
Unaccounted cash of Rs 2.31 crore and jewellery worth Rs 2.48 crore has been seized, it said.
