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The Income Tax Department on Wednesday claimed that it has unearthed Rs 110.70 crore of unaccounted income through a search and seizure action recently conducted on a "prominent builder group" in Mumbai. The unaccounted income related to earnings in two years. Based on the evidence collected by the department, the group had admitted having earned unaccounted income to the tune of Rs 110.70 crore in two years, a Central Board of Direct Taxes (CBDT) release said here today. However, CBDT officials declined to name the builder group. The search was conducted simultaneously in Mumbai, Pune, Bangalore, Hyderabad and Nagpur. Further, the CBDT release said that the group had not filed its income-tax return for the assessment year 2006- 07 and also failed to pay advance income tax for the financial year 2007-08. During the search, documentary evidence indicated undisclosed income, non-filing of tax return and manipulation of share transactions resulting in booking of bogus share losses. - Our Bureau

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