New Delhi, Nov 15 (PTI) Unaccounted income of Rs 600 crore was detected after the Income Tax Department recently raided two business groups based in Gurugram in Haryana, the CBDT said on Monday.

The searches were carried out on November 10 on the groups, one engaged in real estate and hospitality and the other a tools and equipment manufacturing group, it said in a statement.

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"The search action on these groups has led to the detection of estimated unaccounted income to the tune of Rs 600 crore," the Central Board of Direct Taxes (CBDT) said.

Rs 3.54 crore in cash and jewellery worth Rs 5.15 crore were seized while 18 bank lockers have been placed under restraint, the policy-making body for the tax department said.

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"Various incriminating documents and electronic data relating to unaccounted investment in real estate, unaccounted sales and purchases, difference in stock, acquisition of shell companies, benami properties and transactions, bogus unsecured loans and share application money, evasion of capital gains, etc. were seized."

"Evidence of large sums of money having been received in the form of salary and remuneration by family members without any commensurate qualification or participation in the management of the businesses has been seized in one of the groups," it claimed.

The CBDT did not identify the entities raided.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)