Mumbai: The Income Tax Department detected two real estate business groups of Mumbai, the unaccounted income of Rs 184 crore has been unearthed in the searches that began on October 7. Though the Income Tax Department did not disclose the identity of the groups or the individuals, names of those related to Nationalist Congress Party (NCP) supremo Sharad Pawar were suspected from the raids also conducted in his home town Baramati.
The searches were carried out at about 70 premises spread across Mumbai, Pune, Goa, Jaipur and Baramati. The department said suspicious flow of funds had taken place with the involvement of "an influential family of Maharashtra." Pawar has been alleging vindictiveness since the day the raids began. The department said the funds so introduced in a dubious manner were found to have been utilised of acquisition of various assets worth Rs 170 crore, such as an office building at a prime location in Mumbai, a flat in the posh locality of Delhi, a resort in Goa, agricultural lands in Maharashtra and investments in sugar mills.
Unaccounted cash of Rs. 2.13 crore and jewellery of Rs. 4.32 crore have been seized. Further investigations are in progress. The investigations going on for over one week identified transactions of the two business groups with a web of companies, which prima facie appear to be suspicious.