IT Department carries out search operations in Rajasthan, Delhi, Mumbai
Jul 13, 2020
New Delhi [India], July 14 : The Income Tax Department carried out search and survey operations on three groups on Monday.
These operations are being carried out at 20 premises in Jaipur, nine in Mumbai, eight in Delhi and six in Kota, according to an official statement.
One of the groups covered is involved in several business activities like hotel, hydropower projects, metal and auto sectors. It is suspected to have invested unaccounted income generated from these activities into real estate.
The second group is engaged in the business of trading of silver/gold jewellery and antique silver articles and has associate enterprises in various other countries like the UK and the US, as well as properties and bank accounts in these countries. The main allegation against the group is that a substantial part of its silver jewellery business is carried out outside the regular books of accounts.
The third group is involved in the hotel business. The source of investment in the same remains to be verified.
Several incriminating pieces of evidence in the form of loose papers/diaries/digital data have been found indicating trading in bullion in cash and investment of cash in properties.
