Barely few days after the lokayukta police raided residential premises of tribal department’s mandal convener unearthing unaccounted property worth Rs2 crore, the sleuths of income tax department here on Friday carried out search operations at as many as 21 places/premises of two builders of the city namely Sharad Doshi and Hansh Kumar Jain and stumbled upon unaccounted income worth crores disproportionate to their known sources of income
According to report, a large posse of income tax officials and employees in an early morning swoop entered narrow lane of lodhipura at around 8 am in three vehicles.
The vehicles stopped in front of the residence of Hansh Kumar Jain, a prominent cloth broker, financer and official of the Cloth Market Association.
The income tax sleuths after alighting from the vehicles entered the residence of Jain. During the course of their search operation, the income tax officials stumbled
upon incriminating documents showing unaccounted property owned by Jain disproportionate to his know sources of income.
Besides, his residence, the department sleuths also searched other business premises of Jain, besides searching residential and business premises of a prominent builder of the city Sharad Doshi and R K Tekriwal located at his residences in Princes Valley in South Tukoganj and Utkarsh Vihar During the course of search operations carried out by income tax officials simultaneously at various places, the department officials are reported to have seized all the important documents and computer records which apparently hinted at huge tax evasion.
Details of the tax evasion would be known only after thorough verification of related documents. Sources informed that both Doshi and Jain had invested crores of rupees in real estate business in the city but had apparently shown less income. The income tax department had been keeping eyes on them since long.