Income tax (I-T) sleuths trailing the tax evasion case of city- headquartered coal importer, Maheswari Brothers Coal Limited, have found documents showing unaccounted money to the tune of Rs 60 crore.

Search operations carried out on the company's offices and residential premises across the country have yielded documents pertaining to unaccounted money, investments and many transactions with known industry players.

The I-T department had started its probe last week following allegations that the firm was showing a low profit to evade tax.

The department carried out search operations on the coal importer's office at Somajiguda for 48 hours beginning last Wednesday. Simultaneous search operations were carried out in Delhi, Chennai, Kolkata, Cuttack, Mangalore, Surat and Goa. The company's district offices in the state at Visakhapatnam, Vijayawada and Vizianagaram were also searched for documents.

Sources told Media that though the preliminary investigations are over, it will take the department another three-four months to come out with a comprehensive report. The detailed probe sheet will then be submitted to the assessing officer to take appropriate action.

The department is also tallying the company's official turnover figure of Rs 7,000 million with the actual profit it is making through imports. Maheswari's annual coal import figure stands at 2 million tonnes.