The Income Tax Department carried out search and survey operations on three groups on 13.07.2020. These operations are being carried out at 20 premises in Jaipur, 6 in Kota, 8 in Delhi, and 9 in Mumbai.
One of the groups covered is involved in several business activities like hotels, hydropower projects, metal, and auto sectors. It is suspected to have invested unaccounted income generated from these activities into real estate.
The second group is engaged in the business of trading of silver/gold jewelry and antique silver articles and has associate enterprises in various other countries like UK, USA, etc., as well as properties and bank accounts in these countries. The main allegation against the group is that a substantial part of its silver jewelry business is carried out outside the regular books of accounts.
The third group is involved in the hotel business. The source of investment in the same remains to be verified.
Several incriminating pieces of evidence in the form of loose papers/diaries/digital data have been found indicating trading in bullion in cash, investment of cash in properties, etc. Further investigations are in process.
