KOCHI: The Directorate of Income Tax (Investigation) has found undisclosed assets to the tune of `30 crore from the raids conducted in the residences and offices of actors Mammootty and Mohanlal last month.Inquiries into the raids have revealed undisclosed assets worth `30 crore, E T Lukose, Director-General of Income Tax (Investigation), said in a statement on Friday.The undisclosed income earned is found to be invested in real estate and assets abroad. Cash and jewellery worth `2.8 crore were seized during the raids, he said.The I-T Department conducted probe into the investments made abroad and undisclosed cash deposits in bank accounts were being tabulated, the official said.Inquiries with banks within and abroad were being conducted.A huge collection of valuable antiques and priceless paintings has been found during a raid on an actor’s house and it has been referred to experts for valuation, it was revealed.However, the director did not reveal the name of the actor. The searches have been concluded and preliminary post-search inquiries initiated in the case. The reports on the findings from the raids and inquires would be prepared by the investigation wing within two months and further assessment proceedings will be finished by December 31, 2013.In the raids conducted last month, `10.5 lakh was seized from Mammootty’s house which he had kept to meet the marriage expenses of his son. From the raids in Mohanlal’s house in Thiruvananthapuram and Kochi, the I-T officials had taken several paintings and antiques into custody.
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