IT Department conducts Search Operations at 25 locations in Chhattisgarh; Seized Unaccounted Cash and Jewellery worth Rs. 2.50 crore

The Income Tax Department initiated search and seizure operations in the case of a Politically Exposed Person (PEP), his close associates and few Government officials on 31/01/2024.

One of the PEP’s close associates works in the real estate business. More than 25 locations were searched in the districts of Raipur, Surguja, Sitapur, and Raigarh in Chhattisgarh.

Many incriminating documents, loose sheets, and digital evidence have been discovered and seized during the search operation. This evidence expose the tax evasion and other illegal activities that these individuals engage in. Preliminary analysis suggests that these persons have received ill-gotten money in lieu of a grant of undue favours to different persons in Government-related works.

During the search, incriminating documents were found that reveal information about illicit funds totalling about Rs. 13 crores that the aforementioned PEP received in cash through his close connections. Furthermore, the evidence that was confiscated points to the PEP associates as the source of this illicit money’s real estate investments.

Similarly, proof of on-money payments totalling around Rs.3 crores for the purchase of real estate as well as evidence of unreported cash expenditures over Rs. 8 crores made by PEP associates in the real estate industry have also been discovered.

The authenticity of these proofs has also been supported by admissions of the aforementioned malpractices made by close PEP associates and staff members.

Additionally, records pertaining to the unlawful seizure of land by the PEP’s close allies have been discovered to be incriminating. In their statement(s), the farmers and the impacted individuals whose properties were transferred in this way have also acknowledged that the PEP exerted undue influence over the completion of the aforementioned land deals. Similarly, his colleagues used PEP’s excessive influence to secure approval for the purchase of “Punarwas Patta.”

Issues related to mismatch in turnover vis-à-vis bank credits have also been detected from the factory premises owned by the spouse of the PEP, who is running a manufacturing concern of Hume Pipes.

The search operation has resulted in the seizure of unaccounted cash and jewellery exceeding Rs. 2.50 crore.

Further investigations are in progress.