New Delhi: Unaccounted transactions, as well as investments amounting to more than Rs 100 crore, were tracked by the Income-Tax department in raids on two Congress MLAs in Jharkhand.

They were raided in connection with their alleged association and links with coal and iron ore businesses across the state.

A statement by the Central Board of Direct Taxes (CBDT) said that 50 premises in Ranchi, Godda, Bermo, Dumka, Jamshedpur and Chaibasa in Jharkhand, Patna (Bihar), Gurugram (Haryana), and Kolkata (West Bengal) were raided since November 4.

The MLAs who were raided were Kumar Jaimangal alias Anup Singh and Pradip Yadav.

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Of them, Jaimangal is the legislator from Bermo and Yadav is from Poriyahat.

The CBDT statement said, “The action was taken against “few business groups engaged in coal trading/transportation, execution of civil contracts, extraction of iron ore and production of sponge iron.”

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The statement added, “Those searched include two politically exposed persons and their associates.”

CBDT further stated that more than Rs 2 crore was seized while unaccounted transactions/investments exceeding Rs 100 crore were detected so far.

Many documents and digital evidence were also seized.

The CBDT added, “A preliminary analysis of this evidence indicates that these groups have resorted to various modus-operandi of tax evasion including inflation of expenses, transactions of loans in cash, payments/receipts in cash and suppression of production. “It has been found that investments have been made in immovable properties, the source of which could not be fully explained.”

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