I-T dept raids net Rs 56 crore cash, 32 kg gold in Maharashtra; cash-count took 13 hours
Income Tax Department has attached assets worth about Rs 390 crore including a huge amount of unaccounted cash from an industrialist in Maharashtra’s Jalna. The value of the jewellery confiscated so far is Rs. 14 crore. More than 120 vehicles were used in the operation, officials said.
The Income Tax department has confiscated illicit goods worth Rs 390 crore, including 32 kilogrammes of gold and Rs 58 crore in unaccounted cash, during raids conducted on the locations of a steel merchant, a textile merchant, and a real estate developer in Maharashtra from August 1-8.
The IT department officials have seized Benami property worth Rs 100 crore. It took department officials 13 hours to count the cash that was confiscated during the raid. The procedure comprised up to 260 policemen and personnel from across the state. The personnel were divided into five teams to carry out the raids.
After actionable information of suspected tax evasion were received against the commercial organisation situated in Jalna district, the Income Tax authorities stated the searches were conducted last week. The value of the jewellery confiscated so far is Rs. 14 crore. More than 120 vehicles were used in the operation, officials said.
As of now, the department has not released any information regarding the business of the industrialist under question. However, it is likely that it will produce more details in its official statement which is expected soon. Notably, sources also revealed that when the searches were conducted, the tax department maintained strict confidentiality about the action taken. It is significant to understand the importance of the raid by looking at the number of IT officials involved and the number of assets seized by the tax department.
This comes after the Enforcement Directorate discovered Rs 50 crore at the two homes of Ankita Mukherjee, a supporter of former Bengal minister Partha Chatterjee. Both were taken into custody in relation to the West Bengal SSC fraud.