I-T dept seizes assets worth Rs 7 cr

Income Tax department has seized assets worth about Rs 7 crore, including Rs 6.13 crore cash, from different premises of a real estate group, which is also involved in mining business.
The group, after a search and seizure operation by the department, has surrendered Rs 15.28 crore as undisclosed income, Sanjiv, Additional Director, Income Tax, said.
Thirty residential and business premises of the group, based in Rajasthan, and its associates located in Jaipur, Udaipur, Jodhpur, Jaisalmer, Sriganganagar, New Delhi, Haryana, Gwalior and Kolkata were covered under the operation launched on Wednesday.
"During this operation till now, Rs 6.13 crore cash has been seized from different premises of Sonipat, Delhi, Jaipur, Sriganganagar and Gwalior.

"Jewellery and silver bars worth Rs 82 lakh were also seized taking the worth of total seizure to approximately Rs 7 crore," Sanjiv said.
One locker of the group has also been sealed at Jaipur, he said.
The assessee group deals in the businesses of road construction, real estate, sand mining, marble mining and processing, liquor vends, toll collection and hotels.