Rajasthan: I-T sleuths raid premises of business firm

JAIPUR: The income tax department has seized assets worth Rs 8.37 crore in raids conducted at the premises of a business group and its associates dealing in real estate and jewellery business.

The assets, confiscated from 24 premises in Jaipur and one in Mumbai, include Rs 3.22 crore cash, besides jewellery worth Rs 5.15 crore, Additional Director of Income Tax (Investigation), Sanjiv Singh, said today.

A large number of documents showing unaccounted transactions have also been seized, he said, adding, these documents reveal receipt and payment of unaccounted money for acquisition of properties.

"Total undisclosed income of about Rs 92 crore has been detected so far. The seized documents and other evidences are being analysed and will be investigated further," he added.

The raids were launched on Thursday by a team that comprised as many as 250 I-T sleuths and police personnel.