The department seized Rs 7.50 crore jewellery worth Rs 4 crore during the operation (Representational)
The Income Tax Department has detected unaccounted income of more than Rs 100 crore after it recently raided a Gujarat-based gutka distributor, the CBDT said on Tuesday.
The searches were carried out on November 16 at about 15 premises of the unidentified group in Ahmedabad.
The department seized Rs 7.50 crore jewellery worth Rs 4 crore during the operation, it said.
"The search action, so far, has led to the detection of unaccounted income of more than Rs 100 crore."
"Out of this, the group has admitted undisclosed income exceeding Rs 30 crore," the Central Board of Direct Taxes (CBDT) said in a statement.
It said the taxman seized "incriminating documents and digital evidence" during the raids.
"The preliminary analysis of these evidences clearly indicate evasion of taxable income by adopting various malpractices such as unaccounted purchases of materials, under-invoicing of sales, and unaccounted expenditure incurred in cash."
"Analysis of seized material reveals that part of these cash sales have not been recorded in the books of accounts," it claimed.
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