IT sleuths raid Kota Stone traders

Income Tax sleuths conducted raids at the premises of Kota Stone Traders and recovered an undeclared amount of Rs 35.35 crores, officials said today.
The search operation conducted at Kota and Ramganj Mandi units continued for four days and the investigation concluded last evening, they said.
The sleuths also recovered papers of land deals, housing constructions, unauthorised loans and assets in the firm's Mumbai corporate office.
"On this basis, an undeclared income of Rs 35.35 crore was exposed. The department has also levied tax of Rs 12 crore, for which we have received a cheque from them," said IT commissioner Avadesh Kumar.

According to IT sources, documents of jewelry and other assets were also recovered from twelve units of the same firm.
The search and survey operation was also carried out at the corporate office in Mumbai, they added.