Udaipur : The ongoing Income Tax investigation into Udaipur Golden Transport and Logistics Pvt. Ltd., owned by Tikam Singh Rao and Gagan Singh, has uncovered undisclosed income amounting to a staggering ₹269 crore. The probe, which began several days ago, has revealed massive cash transactions and suspicious financial dealings linked to the transport and gutkha businesses run by the company.
Raids Across 23 Locations Yield Explosive Findings
The Income Tax Department has conducted raids at 23 premises associated with the company, including offices in Udaipur and Mumbai. Initially, the undisclosed income was estimated at ₹137 crore. However, further scrutiny of cash transactions revealed an additional ₹132 crore, bringing the total to ₹269 crore.
From the company’s Udaipur office, records of ₹240 crore in cash dealings were uncovered, while another ₹29 crore was traced to its Mumbai office. Documents from the raids also detailed 330 trucks registered under employees’ and relatives’ names, raising questions about possible benami ownership.
Luxury Vehicles and Electronics Under Investigation
The raids uncovered a fleet of 14 high-end luxury vehicles, including BMW, Volvo, Range Rover, Porsche, and Mercedes Defender, among others. The department is now examining the registration and purchase details of these vehicles. Additionally, 25 electronic devices seized during the raid will undergo forensic analysis for further insights into financial transactions.
Suspicious Records and Receipts Found
Key findings include financial records from the Jaipur branch, detailing cash receipts and expenditures from FY 2018-19 onwards. A cash receipt document indicating income from undisclosed transport operations further implicates the company in questionable practices. Documents tied to a factory in Vapi, Gujarat, have also surfaced, prompting additional investigation.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.