Indore: Soya refinery firms , Ambika and Dhanuka have jointly admitted of having over Rs 60 crore as undisclosed income, on which they will pay the taxes, revealed income tax department on concluding day of the investigation in one of the biggest crackdown on tax evasion in state.The firms, which are based in Mandsaur and Neemuch, were involved in a largescale tax evasion with the help of some associates spread across five states.The income tax officers have also found documents indicating a bank fraud of Rs 518 crore by a Delhi-based businessman Manish Jain, in which these soya refinery firms may be indirectly involved.An official from income tax department, on condition of anonymity, said, “After 2003, this was one of the biggest operations at any small centre like Mandsaur and Neemuch, where a large team was roped in to unearth tax evasion. It was a big operation wherein we took help of bomb detection squad and advanced means to carry out the search.”The official said, “We are investigating the matter. There is no direct relation of Manish Jain with these firms, but, indirectly there is some connection. We found that Rs 518 crore bank frauds have been done by using bogus invoices and receivables used to take bank loans.”Income tax sleuths seized jewellery worth Rs 6 crore and recovered close to Rs 2 crore in cash besides taking lockers in possession. The final amount may rise further during the course of investigation and analysis of the documents. I-T had carried out raids on February 13 at establishments of soya refinery firms in Mandsaur, Neemuch, Indore and Jaora.An official said, “The department keeps an eye at every large and small centres to ensure tax evaders are nabbed. We hope tax payers will voluntary come forward to pay taxes.”Suspecting a wider nexus in the tax fraud, simultaneous raids were also conducted in Delhi, Uttar Pradesh, West Bengal and Rajasthan by the department officials.The raiding team consisted of 200 officials from income tax department and 120 from the police. The investigation team had travelled for around six hours in more than 80 vehicles posing as lost members of a marriage procession to trace the tax evaders.

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