Income Tax sleuths on Wednesday raided 19 places allegedly belonged or connected to two business partners in Ranchi and found tax evasion of about Rs 50 crore, officials said. Following the department's internal information search operations were conducted on 19 places in Ranchi belonging to two business groups, Kumar Sanjay Director (IT-Investigation) said in Ranchi.
"Rs 60 lakh cash has been recovered and six lockers have been found following the search, and raids will continue on Thursday (too)," he said. A separate team also conducted raids at a place in Kolkata, he added.
The two business partners, who had completed some premium projects already, were into ongoing high-end construction projects. Kumar Sanjay said the department has also discovered about eight new accounts, besides the existing bank accounts.
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