I-T raids unearth ₹100 cr tax evasion; Tycoon’s luxury cars including Rolls Royce, Lamborghini seized

KANPUR The income tax department’s two-day multi-state raids including locations in Kanpur, Delhi and Jhansi, allegedly blew the lid off a major tax evasion exceeding ₹100 crore by Banshidhar Tobacco Company and its affiliate firms engaged in tobacco supply, said sources.

Nearly ₹4 crore cash was seized on Thursday and Friday, along with a fleet of luxury vehicles, including Lamborghini, McLaren, Ferrari, and Rolls Royce, valued at ₹60 crore. However, the source of these high-value cars was not disclosed, raising suspicions of potential involvement of undisclosed accounts or unrecorded transactions.

Authorities are currently investigating whether these vehicles were purchased through anonymous channels or omitted from the company’s financial records, sources said.

The raids also shed light on tax evasion and illicit financial activities in the region. In last two years, raids on Ghana Ram Group blew the lid off tax evasion of ₹800 crore, while a similar raid in Kanpur in 2023 exposed tax evasion worth ₹1500 crore by Radhey Shyam Purshottam Dass jewellers.