Five biz groups surrender Rs 125 crore to I-T sleuths in Indore

The five business groups, which were searched by the investigation wing of the income tax department, have surrendered Rs 125 crore as unaccounted income. The searches concluded on Sunday night.

The five business groups, which were searched by the investigation wing of the income tax department, have surrendered Rs 125 crore as unaccounted income. The searches concluded on Sunday night.

On Wednesday, the department began search of 20 premises and surveys on seven business premises of Prakash Asphalting & Toll Highway (PATH) Pvt Ltd, Ayush Ajay Construction, Agroh Infrastructure, PD Agrawal Infrastructure Pvt Ltd and BR Goyal Infrastructure Pvt Ltd.

The companies are into road and highway construction projects in Indore, Mhow and other parts of north India.

In addition, surveys were carried out at Surya Infrastructure and Sreenath Infrastructure owned by Akash Vijayvargiya, son of state urban administration and development minister Kailash Vijayvargiya, from where I-T teams recovered documents and brought them to the office.

According to the department officials, summons will be issued to assessees once the documents are put in required order and synopsis is prepared.

In addition to Rs 125 crore which the assessees surrendered, the department recovered 35 lockers belonging to them. On same day, it had seized cash worth Rs 2.25 crore and jewellery worth Rs 1.25 crore.