New Delhi, May 16 (IANS): The Income Tax Department said on Monday that it recently conducted search and seizure operations on a business group operating largely out of North Bengal, which led to the unearthing of unaccounted cash receipts of about Rs 100 crore.

The operation also led in the seizure of Rs 1.73 crore unaccounted cash and jewellery valued at Rs 1 crore.

According to sources, the business group is controlled by a person with an active political background.

"Searches were also conducted at the premises of his close business associate. The group is engaged in a variety of businesses, ranging from production and sale of edible rice bran oil, mustard oil, de-oiled rice bran (DORB), different types of chemicals as well as real-estate business," said an I-T official.

The I-T Department said that a total of 23 premises spread across Uttar Dinajpur, Dakshin Dinajpur, Malda, Kolkata and Siliguri in West Bengal, and Guwahati in Assam and its surrounding areas were covered.

The search action revealed that the group was suppressing its yield and making unaccounted cash sales of edible oil and DORB. Several instances of cash transactions not recorded in regular books of account have been detected during the search operations.

Handwritten notes, documents and digital evidences containing extracts of cash transactions have been seized. Parallel cash books and bogus claims of expenses have also been detected. Preliminary investigation has revealed unaccounted income of more than Rs 40 crore.

"In the search operations conducted on the close business associate of the main business group, who is a leading exporter of agro products in Malda district in North Bengal, incriminating documents against cash payments in land acquisition to the tune of Rs 17 crore were found. Details pertaining to unaccounted cash receipts of about Rs 100 crore were also found," the official said.