The Income Tax Department has carried out search and seizure action on two Kolkata based Groups engaged in manufacturing and trading of food grains, steel, marbles and stones. The search action has resulted in unearthing of incriminating evidence revealing various shell entities being used for raising bogus share capital and unsecured loans, discrepancies in stock and out of the books cash transactions. <br />''<br />''<span style="color: #222222;">The Groups have accepted that they used shell companies to route back their own unaccounted money. A total concealment of income amounting to Rs 178 crore has been detected so far. The search action has resulted in seizure of unaccounted cash of Rs one crore and jewellery worth Rs one crore 42 lakh.</span><br />