A release from the Central Board of Direct Taxes said Rs 10 crore cash and jewellery worth Rs 6 crore was seized by during the operation.
The first group was found to have been actively involved in systematically suppressing sales by manipulating their account books. Its extent was found to be more than Rs 1,000 crore over several years. It was also found that the assessee had made unaccounted cash purchases of about Rs 150 crore.
Incriminating material seized from the second group revealed that the assessee had obtained bogus bills to the tune of Rs 80 crore and thereby suppressed taxable income. In addition, unaccounted rental receipts and unaccounted scrap sales aggregating to Rs 7 crore have also been detected.