I-T Dept detects ₹700-cr tax evasion after raids on Bengal-based group

Income Tax Department has seized "incriminating evidence" that shows alleged financial irregularities of ₹700 crore after it raided a West Bengal-based steel products manufacturing group, CBDT said. Evidences gathered pertain to generation of "unaccounted income" by the group by way of unaccounted cash sales, purchase from bogus parties, among other ways. The raids were carried out at 25 premises.