ANI
22 Nov 2022, 18:25 GMT+10
Patna (Bihar) [India], November 22 (ANI): The income tax department of Bihar on Tuesday said it detected more than Rs 100-crore unaccounted transactions and Rs 12-crore stock in gold and diamond during a search and seizure action in five cities. The raids were done on a few groups engaged in the business of gold and diamond jewellery and real estate on Thursday.
These searches were carried out at more than 30 premises spread over Patna, Bhagalpur, Dehri-on-Sone, Lucknow and Delhi, according to a statement from the ministry of finance.
During the search operations, unaccounted cash and jewellery worth more than Rs 5 crore have been seized. A total of 14 bank lockers have been put under restraint. The statement said so far, the search action has led to the detection of unaccounted transactions exceeding Rs 100 crore.
During the course of the search, a large number of incriminating documents and digital evidence demonstrating evasion of income have been found and seized.
In one of the groups engaged in the business of gold and diamond jewellery, the statement said analysis of seized evidence revealed that this group had invested its unaccounted income in cash purchase of jewellery, renovation of shops and immovable properties.
The finance ministry statement said this group had been found to have introduced unaccounted money of over Rs 12 crore in its books of account, in the garb of advance from customers. Further, upon physical verification of stock, during the search action, unaccounted stock of more than Rs 12 crore has been found.
In the case of another group engaged in real estate business, evidences of unaccounted cash transactions in purchase of land, construction of buildings and sale of apartments, have been found and seized, according to the statement. The evidence seized in the case of a prominent land broker further corroborated the above unaccounted transactions.
The quantum of such unaccounted cash transactions was more than Rs 80 crore and the unaccounted income so earned by the key persons of the group had been invested in acquisition of many immovable properties including large parcels of land, the statement said. Further investigations are in progress, the finance ministry statement said. (ANI)Get a daily dose of Entertainment Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Entertainment Sun.
More InformationWASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
MOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
New Delhi [India], July 11 (ANI): Vice President Jagdeep Dhankhar urged Indian businesses to expand globally, not only in markets but...
Noida (Uttar Pradesh) [India], July 11 (ANI): Yash Sahu, the son of Kanhaiya Lal, the tailor who was murdered in Rajasthan's Udaipur,...
The 17th BRICS summit was more than a photo op. It was a coordinated rejection of Western power and a declaration of intent A few...
The 17th BRICS summit was more than a photo op. It was a coordinated rejection of Western power and a declaration of intent A few...
Noida (Uttar Pradesh) [India], July 11 (ANI): After the Delhi High Court ordered a stay on the release of the film 'Udaipur Files:...