Search and seizure operations by the Investigation Directorate of the Income Tax Department in the past two days on the premises of a leading business group engaged in IT education and multi-level marketing have led to unearthing of allegedly unaccounted assets amounting to Rs.3.32 crores including cash totalling Rs. 41 lakh.

According to IT officials, the group purportedly admitted to undisclosed income of more than Rs.35 crore. This makes it one of the biggest surrenders so far in Rajasthan.

The Investigation Directorate, under the direction of Poonam Kishore Saxena, Director-General of Income Tax (Investigation.), Rajasthan, and Sunil Verma, Director of Income Tax (Investigation), Jaipur, had launched the operation on Tuesday at five locations, which included four search premises and one survey premises situated in Vidhyadhar Nagar and Vaishali areas of Jaipur and Chirawa town in Jhunjhunu district as well as in Jhunjhunu town. The team, comprising 55 personnel, including the police, started operation at 8 a.m. on Tuesday and investigation was still on.

Huge investment

Sources in the Investigation Directorate said papers related to huge investment in immovable properties have been found.

Prasenjit Singh, Additional Director of Income-Tax (Investigation), Jaipur, and Jai Singh, Assistant Director of Income Tax (Investigation)-I, Jaipur, coordinated the search operation. “Enquiries and investigation are under progress,” they said on Wednesday.