Bhopal (Madhya Pradesh): The Income Tax Department’s investigation wing has uncovered unaccounted income worth approximately Rs 200 crore during raids on four prominent business groups in Satna. The extensive operation, covering 44 locations across Satna, Jabalpur, Raipur, Jagdalpur, Delhi and Kolkata, also targeted businessman Sitaram Agrawal, who is under scrutiny for alleged money laundering.
The tax evasion was primarily carried out by inflating bogus expenditures on paper. Authorities are currently assessing the valuation of several properties, including a shopping mall and two luxury houses.
According to sources, the I-T department raided Rama TMT Group, Mehrotra Group, Somani Group and Senani Group in Satna. The operation, which began on March 4 and concluded on March 8, led to seizure of cash and jewellery worth Rs 6.5 crore, in addition to detecting unaccounted income of Rs 192 crore. Investigators found that some companies falsely listed their employees as contractors to facilitate payments, while others made bogus entries for steel purchases.
Real estate and construction businesses allegedly accepted large cash payments for selling flats, avoiding proper financial disclosures. A significant number of incriminating documents, including records of land investments and undisclosed assets, were seized. The raids were conducted under the supervision of Director General of Income Tax (Investigation) Satish Goyal.
