JAIPUR: In a search and survey conducted by the Income Tax department at nearly 31 premises of prominent builders and jewellers unaccounted and unrecorded transactions exceeding to Rs 1,600 crore have been unearthed.
Sleuths of the I-T department on Friday stated that the searches are on and on the conclusion the figure of unrecorded transactions may go up.
Divulging the details of the raids, senior officers of the department stated that one of the groups is a prominent builder, developer and colonizer in Jaipur. “During the search, a plethora of incriminating documents and digital data in the form of unaccounted receipts, unexplained development expenses, unexplained assets, cash loans and advances, on-money receipts were found and seized. The highlight of the search was that complete details of unaccounted transactions of the last 6-7 years of this group maintained in several registers, slip pads, day-to-day cash book, expense sheets and diaries hidden in the basement were unearthed and seized from the main business premises. Total unaccounted transactions amounting to Rs 650 crore have been detected, so far in this group,” said a senior officer.
The second group is a multi-venture activity group engaged in the business of precious and semi-precious stones, jewellery, antiques, handicrafts, carpets, textiles etc. “During the course of search operation, a concealed cavity was detected by the team at the main business premises of the assessee. The entire details of unaccounted manufacturing activity of gold and silver ornaments for the last six years were found from the said cavity. Documents relating to benami property amounting to Rs 15 crore were also found from the secret chamber,” the officer added.
The jeweller group also had advanced unaccounted cash loans to various persons amounting to Rs 122.67 crore and is also earning unaccounted interest on the same.
The third group is a renowned builder and developer of Jaipur engaged in the development of commercial centres, farm houses, townships and residential enclaves.
“The group had also advanced unaccounted cash loans to various persons amounting to Rs 19 crore and is earning unaccounted interest on the same. Thus, total unaccounted transactions amounting to Rs 225 crore have been detected, so far,” said an officer.
“In all, unaccounted & unrecorded transactions exceeding Rs 1,600 crore have been unearthed so far,” the officer added.