The Income Tax Department today carried out simultaneous search and seizure operations in the case of three prominent businessmen in Srinagar and Kupwara. These operations have, prima facie, led to the detection of huge amounts of undisclosed income, seizure of unaccounted assets and incriminating evidence and involvement in benami transactions by these three groups.<br />'' <br />''The search action revealed that the key person of one of the groups, although engaged in Cross-LOC trade until the suspension of trade by the Government in April last year, has not filed his Income Tax Returns. Incriminating documents related to the LOC trade have been seized from the Custodian of cross-LOC trade, indicating large-scale tax evasion.<br />'' <br />''<span style="color: #222222;">In another case, the key person and his brother were engaged in Cross-LOC trade until the suspension of trade by the Government. He had made total exports of  three crore rupees in the last two years, while he had filed his Income Tax Return for only one year. The Income Tax Return filed also does not match with the credits in multiple bank accounts which run into crores of rupees. The passport of the assessee reveals that he had travelled to Pakistan for 20 to 25 days every calendar year since 2017.</span><br />