Inflation of expenditure and under-reporting of revenue has also been detected and the group has also been found to be indulging in unaccounted cash payments, the CBDT said.
The searches were conducted at 34 locations in Kanchipuram, Vellore and Chennai on October 5.
On Sunday, the ICIJ involving had released a 2.94 terabyte data trove, based on 12 million leaked documents linked to wealthy elites from over 200 countries.
These were accumulated over a decade and were found to be parked in bank accounts in Switzerland, UAE, Malaysia and several other countries, the statement said.
IT department detects Rs 500-crore unaccounted transactions after raids on Gujarat real estate group
The raids that were launched at 22 premises of the group and the brokers on September 28 are underway.
The 48-year-old actor said that he had been busy 'attending to a few guests' and that is why he was unable to be at the service of the people for the last four days.
The ministry said this simplified process would also be available to companies, or tax audit cases and they are mandatorily required to authenticate the electronic records by digital signature.
Mohapatra, a 1985-batch IRS (IT) officer, is currently the member in the board that frames the policy for the Income Tax department.
Officials claim that government may reconsider inducting other senior officials who were left out in May.
Replying to another question, the finance minister said the price situation is constantly monitored by the government and appropriate measures are taken to maintain price stability.
"The voluminous material found during the search operations is being examined," the CBDT statement issued said.
Probing 'unaccounted transactions' of Rs 200 crore, says CBDT after raids on Bharat Samachar and linked businesses
The CBDT did not identify the group in the statement and said that apart from news media, the group deals in mining, hospitality, liquor and real estate.
The CBDT issued a circular on Monday on implementation of Sections 206AB and 206CCA with respect to higher tax deduction/collection for certain non-filers.
The cost inflation index is used by taxpayer to compute gains arising out of sale of capital assets after adjusting inflation.
Of this personal income tax refunds worth Rs 5,047 crore has been issued in over 11.51 lakh cases. Corporate tax refunds of Rs 10,392 crore have been issued to 21,487 taxpayers.