<p>The Income Tax Department has detected undisclosed income of about Rs 750 crore after it raided three major Bengaluru-based contractors engaged in the execution of irrigation and highway projects, the CBDT said on Tuesday.</p>.<p>The searches were launched on October 7 at 47 premises spread across four states.</p>.<p>"These three groups were involved in suppression of their income by resorting to bogus purchases, inflation of labour expenses, booking of bogus sub-contract expenses etc.</p>.<p>"Investigation found that one of the groups has booked bogus sub-contract expenses in the name of about 40 individuals of no means and unconnected to the construction business," the Central Board of Direct Taxes, the policy-making body for the tax department, said in a statement.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/state/i-t-raids-continue-for-third-consecutive-day-in-karnataka-1039102.html" target="_blank">I-T raids continue for third consecutive day in Karnataka</a></strong></p>.<p>It added that these individuals have admitted to the said manipulation.</p>.<p>"The search and seizure action in these three groups has resulted in detection of undisclosed income of about Rs 750 crore," the CBDT said.</p>.<p>"Out of this, aggregate amount of Rs 487 crore has been admitted by the respective group entities as their undisclosed income," it said.</p>.<p>One of the groups admitted to having indulged in "inflation of labour expenses amounting to Rs 382 crore".</p>.<p>Another group has been found to have taken accommodation entries from non-existing paper companies to the extent of Rs 105 crore, which stands "admitted" by this group, the CBDT said.</p>.<p>It said Rs 4.69 crore of unaccounted cash, jewellery and bullion valued at Rs 8.67 crore and silver articles worth Rs 29.83 lakh were seized during the operation.</p>.<p><strong>Check out latest DH videos here</strong></p>
<p>The Income Tax Department has detected undisclosed income of about Rs 750 crore after it raided three major Bengaluru-based contractors engaged in the execution of irrigation and highway projects, the CBDT said on Tuesday.</p>.<p>The searches were launched on October 7 at 47 premises spread across four states.</p>.<p>"These three groups were involved in suppression of their income by resorting to bogus purchases, inflation of labour expenses, booking of bogus sub-contract expenses etc.</p>.<p>"Investigation found that one of the groups has booked bogus sub-contract expenses in the name of about 40 individuals of no means and unconnected to the construction business," the Central Board of Direct Taxes, the policy-making body for the tax department, said in a statement.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/state/i-t-raids-continue-for-third-consecutive-day-in-karnataka-1039102.html" target="_blank">I-T raids continue for third consecutive day in Karnataka</a></strong></p>.<p>It added that these individuals have admitted to the said manipulation.</p>.<p>"The search and seizure action in these three groups has resulted in detection of undisclosed income of about Rs 750 crore," the CBDT said.</p>.<p>"Out of this, aggregate amount of Rs 487 crore has been admitted by the respective group entities as their undisclosed income," it said.</p>.<p>One of the groups admitted to having indulged in "inflation of labour expenses amounting to Rs 382 crore".</p>.<p>Another group has been found to have taken accommodation entries from non-existing paper companies to the extent of Rs 105 crore, which stands "admitted" by this group, the CBDT said.</p>.<p>It said Rs 4.69 crore of unaccounted cash, jewellery and bullion valued at Rs 8.67 crore and silver articles worth Rs 29.83 lakh were seized during the operation.</p>.<p><strong>Check out latest DH videos here</strong></p>