IT raids: The Income Tax Department on Sunday conducted a raid on Maharashtra's Nashik-based Surana Jewellers in response to alleged undisclosed transactions by its proprietor. According to IT department officials, about Rs 26 crore in cash and documents of unaccounted wealth worth Rs 90 crore have been seized during the searches.
Reports suggest that the Income Tax Department formed different teams to conduct this raid, which also included searches at the residences of family members.
This operation by the Income Tax Department lasted for an extended period. The discovery of such a significant amount of property with a bullion trader has sparked discussions. Currently, officials are endeavouring to determine the source of the businessman's substantial wealth.
Stir in Maharashtra due to action of Income Tax
The Income Tax Department has been in a very alert mode for the last few days in Maharashtra. Recently, the department had taken a big action in Nanded and seized unaccounted property worth Rs 170 crore. After this, the department has done a big job in Nashik today.
This action of the Income Tax Department has created a stir in Maharashtra. According to the information received, it took the Income Tax Department several hours to count the notes. Many teams were called for this and then the figure that came out was shocking.
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