The seized assets from the raid included Rs.56 crore in cash and 32 kilograms of gold, pearls, and diamonds worth Rs.14 crore.
Mumbai: The Income Tax Department conducted raid at numerous places connected to some business groups in Maharashtra’s Jalna over tax fraud, officials claimed, and they recovered about Rs.390 crores in “benami” property or “unaccounted” assets.
32 kg of gold, pearls, and diamonds valued at Rs.14 crores were among the seized items, with cash totaling Rs 56 crore. During the raids, officials also found some digital data and property documents.
The home and business locations connected to two corporate groups that deal in steel, textiles, and real estate were raided between August 1 and August 8.
The precise quantity of cash taken during the raids was counted by the officials in around 13 hours.
The Income Tax Department had assembled five teams totaling 260 officials from across the state for the search operation after obtaining information regarding alleged tax fraud by these commercial organisations.
According to police, more than 120 vehicles were employed in the operation.
Also Read | ‘Wait For Three-Four Days’ BJP To JDU’s New Alliance
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
