The Income Tax Department raided the premises of a textile trader, steel, and real estate developer in Maharashtra. While raiding the Income Tax Department seized properties worth crores of rupees.
The raids lasted from 1 August to 8 August at the businessmen located in Jalna district. The total value of the seized assets is around 390 crores. It includes 56 crores of cash and 32 kg of gold, diamonds, and pearls. The department has also seized relevant documents.
According to officials, the businessman was accused of tax evasion, and based on information received in this regard, the Income Tax Department team raided last week.
Moreover, a senior official of the department said 56 crore cash and seized jewelry are worth Rs 14 crore. Apart from documents, digital data has also been found in the action.
However, the Income Tax Department has also raided the houses, offices, and factories of steel makers in Jalna. In recent days, the investigating agencies have taken many big actions in some states including Uttar Pradesh, and West Bengal and have seized cash worth crores of rupees.
