The Income Tax Department has detected "unaccounted" income of more than ₹150 crore after it recently raided a Jaipur-based group engaged in the business of gems and jewellery, hospitality and real estate, the CBDT said on August 11.
The raids were launched on August 3 and more than three dozen premises of the business group, which has not been named by the Central Board of Direct Taxes (CBDT) in its press statement, in Jaipur and Kota districts in Rajasthan were covered. The Board said the Department has seized "unaccounted assets" of over ₹11 crore so far. The CBDT frames policy for the Tax Department.
