Income Tax raids at various location; 12 Kg Gold seized from Luxury Car Seat

The Income Tax team raided 55 location across multiple states, in three days. Bengaluru, Kolkata, Ahmedabad, Delhi, Lucknow, Kanpur, and many other cities are among them. From where the Income Tax team has recovered a large amount of fake transactions, bills, cash and gold which have been seized.

IT Department is constantly conducting searches in Kanpur. Action is being taken against Radha Mohan Purushottam Das Jewellers on Birhana Road, as well as Sanjeev Jhunjhunwala, the promoter of Ritu Housing. It is claimed that loss and profit were displayed by changing them artificially. As a result, one tax can be avoided. Simultaneously, bogus banknotes were shown, allowing black money to be turned into white money.

As per sources, 12 kg of gold hidden beneath the carpet of a BMW car was seized during the search at an established jeweller’s location. The market value of this gold is believed to be more than Rs.7 crore. According to sources, there was a BMW car parked at the jeweler’s residence during the raid. IT sleuths were suspicious and searched the vehicle. When they removed the car’s carpet, they discovered 12 kg of gold underneath it. Tax evasion of crores is being claimed. The IT department, however, has not confirmed this breakthrough.

At the same time, in addition to the jeweller’s Chowk Sarafa, showroom on Birhana Road, and colleagues’ enterprises in Bagla Building, action was also carried out on properties in Yog Galaxy, Kidwai Nagar, Pokharpur, and Moti Vihar. At the same time, the crew questioned family members and associates while looking for builder Sanjeev Jhunjhunwala. A large sum of money and valuable papers were also discovered here. Let us notify you that the Income Tax Officials as been camped out in 17 different locations across the city since Thursday morning.

80 Kg Gold and Eight Crore Cash Found So Far

According to Income Tax officers, so far in the operation, over 80 kg gold, approximately eight crore cash, and documentation for over a hundred properties have been seized. Aside from that, papers pertaining to transactions totaling Rs.1800 crore were scrutinised. There is strong evidence that bullion merchants are investing in real estate.