Jaipur, Sep 2 (IANS) The Income Tax Department launched a major raid on Tuesday, conducting simultaneous searches at 18 locations linked to real estate and pan masala businesses in Jaipur and Kota.
Nearly 150 officers and staff were deployed in this large-scale operation.
According to officials, the action was triggered by complaints of tax evasion, large cash transactions, undeclared income, and use of fake documents.
Investigators suspect that the raids could uncover huge amounts of cash, benami properties, and hidden assets, said sources.
Groups under the scanner of the I-T include High Fly Real Estate Group (Jaipur), whose eight locations were being raided.
The group is suspected of large-scale cash dealings in property transactions and black money use.
More details about the raid were awaited.
Besides the real estate group, the Income Tax officers were raiding three locations linked to the Siddheshwar Gums (Signature Pan Masala, Kota).
The company reportedly faces charges of irregular financial records and tax evasion.
The raid was also being carried out at six locations of the Gokul Kripa Group (BRB Developers, Jaipur). Allegations include undeclared income and suspicious property transactions.
Raids began in the morning and are likely to continue till late at night, sources said.
Teams were scanning documents, computer systems, and digital records at all locations, the sources added.
Sources hinted at the possibility of large recoveries of cash and incriminating documents.
Officials revealed that these groups had been under the department’s radar for months. In particular, the real estate sector was flagged for benami deals, black money transactions, and complex financial layering to conceal undeclared wealth.
The Income Tax Department has not released an official statement so far.
Details of seizures and findings are expected once the searches conclude.
Meanwhile, the raids have created panic among business circles in Jaipur and Kota, especially those linked to the targeted groups.
--IANS
arc/dpb
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