IT Department Conducts Searches in Odisha; Confiscated Jewellery & Gold Worth Rs.1 Crore

The Income Tax Department conducted search and seizure operations against a group involved in the mining, processing, and trade of black stones. The search effort encompassed around 15 locations, including Bhubaneswar, Jajpur, Cuttack, Dhenkanal, Keonjhar, Hyderabad, Kolkata, Gurugram, and Noida.

Various incriminating documentary and digital evidences, including handwritten books and loose sheets, have been discovered and seized throughout the course of the search and seizure operations. The records that were collected include systematic information on cash sales and phoney creditors totaling more than Rs. 80 crore. These cash sales are not reported and are not noted in the group’s regular books of account, according to the study of the documents that were confiscated.

It was discovered that the organisation had made large unreported investments in the purchase of properties. The search operation resulted in the confiscation of unaccounted Cash, jewellery, and gold worth more than Rs. 1 crore.

Further investigations are in progress.