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I-T raid on exporter-builder

JAIPUR: Search and seizure operations by the Investigation Directorate of the Income Tax Department at the Jaipur, Mumbai and Surat premises of a garment exporter and builder have led to unearthing of allegedly undisclosed income reportedly amounting to more than Rs.6 crore. The group recently had proposed to build a hotel in Jaipur.

The Investigation Directorate, Jaipur, under the direction of Poonam Kishore Saxena, Director-General of Income Tax (Investigation), Rajasthan, and Sunil Verma, Director of Income Tax (Investigation), Jaipur, launched the operation.

During the search, officials claimed to have seized documents allegedly reflecting “on money” receipts from sale of real estate project units as well as papers related to investment in properties. These papers allegedly indicate that the group had earned huge undisclosed income from real estate projects. The authorities claimed the group had admitted to undisclosed income of more than Rs.6 crores. Enquiries are under way.

The searches were conducted at the three premises of the group by a team comprising 35 department and police personnel over the weekend. Prasenjit Singh, Additional Director of Income-Tax (Investigation), Jaipur, and Jai Singh, ADIT (Inv)-I, Jaipur, coordinated the operation.

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