Two business groups surrender Rs 51.5 cr after I-T raids

Written by: Pti
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Jaipur, Jul 21: Two business groups here have surrendered an undisclosed income of Rs 51.5 crore following Income Tax officials' raid in their premises, the second biggest disclosure of unaccounted income in Rajasthan.

A group engaged in precious and semi-precious stone jewellery surrendered Rs 31.5 crore, while the other group, a manufacturer of metal power, surrendered Rs 20 crore as undisclosed income, I-T sources said.

The raid, which began on Jul 18 on 17 premises of the two groups in the state, came to a close yesterday morning. During the search at the residential premises of both the groups, cash and jewellery worth Rs 2.78 crore were seized.


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