Unearned income of more than 50 crores revealed in raids on business locations

During the operation of the Income Tax Department raids on the locations of a business group of Indore in Madhya Pradesh, undisclosed income of more than Rs 50 crore has been revealed.

According to Income Tax Department sources, a couple of dozen groups of the division have been in motion for 3 days. So far 12 financial institution lockers, more than 100 financial institution accounts, money and gold and silver jewelery price more than one crore rupees have been discovered.

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Sources stated that until date unaccounted income of more than Rs 50 crore has been revealed. The paperwork associated to funding in lands have been discovered from the financial institution locker. Raid operations have been carried out at a couple of dozen locations. It is estimated that the motion will proceed for the subsequent two days. The business group is especially concerned in ‘actual property’ business.

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