Jaipur, November 18: Unaccounted assets amounting to Rs 3.32 crore, including Rs 41 lakh in cash, were seized during raids by Income Tax sleuths on a marketing company in Rajasthan, a top IT officer said today.
The IT education and multi-level marketing company also admitted to having an undisclosed income of over Rs 35 crore, Additional Director of Income Tax (Investigation), Jaipur, Prasenjit Singh said.
“We launched search and seizure operations at company’s Jaipur and Jhunjunu premises which led to the seizure of unaccounted assets worth Rs 3.32 crore, including Rs 41 lakh in cash,” he said.
The raids began yesterday and concluded today, Singh said adding “papers relating to huge investment in immovable properties have also been recovered”.
The group admitted to having undisclosed income of more than Rs 35 crore, the highest so far revealed by any company in the state, the IT Additional Director said.
–Agencies