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Unaccounted income of ₹100 crore has been detected after the Income tax department raided three “leading” contractors of Northeast India based in Assam early this week, the CBDT said on December 26.
The search and survey action was started on December 22 at fourteen locations in Guwahati, Silapathar and Pathsala in Assam and in Delhi.
“Cash of ₹ 2.95 crore has been seized. Overall, undisclosed income to the tune of approximately ₹ 100 crore has been unearthed so far during the search and survey operation,” the Board said in a statement without sharing the identities of those raided.
It added that “jewellery of ₹ 9.79 lakh has been seized and the sources of acquisition of some other jewellery worth ₹ 2 crore is under verification.”
The entities covered are “leading contractors of Northeast and one group is also involved in the hospitality business,” it said.
“It has been gathered during the search action that one group engages in huge cash transactions in hospitality business of proportions as high as 50 per cent, which is under examination.”
Further investigation is on to detect the actual quantum involved in tax evasion, even as a locker found during the raids is yet to be “operated”, it said. (PTI)
(Edited by Christopher Gatphoh)