An undisclosed income of over Rs 3,000 crore has been "admitted" by a Delhi-NCR-based real estate group after raids by tax officials, the Central Board of Direct Taxes said in a statement on Monday.
Though officials did not identify the firm, sources claimed it to be the Oriental India Group.
Last week, over 25 premises of the group--that has interests in infrastructure, mining and real estate-were raided, according to the statement.
"Cash ledgers containing details of unaccounted cash receipts of more than Rs 250 crore have also been found and seized. The group also did not pay taxes on several property transactions."
"Unaccounted assets of Rs 3.75 crore have been seized. The group has admitted undisclosed income of more than Rs 3,000 crore and agreed to pay tax on the same," the statement said.
The statement said 32 bank lockers have also been sealed after the raids.