I-T seizes Rs 1.7 cr from onion traders

In searches still continuing, there has been a cash seizure of Rs 18.85 lakhs, jewellery of Rs 24.75 lakhs and other assets like shares at Rs 15 lakhs. Groups have been making unaccounted payment to farmers, which have been admitted at Rs 70 lakhs. Searches revealed that there is unaccounted money-lending business in which investment is Rs 22 lakhs, the interest income thereon is Rs 4.5 lakhs.

It was also noticed that the lands of theassesses were acquired by the Government and the payment of Rs 2.5 crores was made, on which capital gains were not shown by assesses in their returns of income. The property in which unaccounted money was invested, amounts to Rs 16 lakhs. The search parties also found fixed deposits worth Rs 2.25 crores, the resources of which were dubious. In Pimpalgaon, it was found that the assesses had suppressed sales of Rs 1 crore. Expenses on ceremonies and furniture were Rs 20 lakhs and unrecorded entries found in diaries amounted to Rs 56.20 lakhs.