1. The IT department has detected “unaccounted” income of more than Rs 250 crore after it raided a Kolkata-based group engaged in manufacturing of power transmission and distribution equipments apart from few other businesses.

 

2. The searches were launched on August 24 and 28 on the premises of the group, which is also involved in manufacturing of steel pipes and polymer products, in West Bengal and Jharkhand.

 

3. Accommodation entries by an entry operator through a web of numerous shell companies aggregating to more than Rs 150 crore have been detected.

 

4. The shell entities have been found to have routed back the unaccounted money in the guise of share capital or unsecured loan into the business of the group.

 

5. Evidence of use of unaccounted cash for acquisition of immovable property and unaccounted cash loan, etc. has also been found