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Income Tax Dept Raids Nashik-Based Jewellers, Rs 26 Crore Cash Seized

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Income Tax Dept Raids Nashik-Based Jewellers, Rs 26 Crore Cash Seized

Nashik: The Income Tax Department has launched searches 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 assets worth Rs 90 crore have been seized during the 30-hour continuous search. Official sources said that the agency raided different locations of the same jeweller on May 23.

The officials under the supervision of the Director General of the Income Tax Investigation Department Satish Sharma and additional directors of Nashik, Nagpur and Jalgaon teams carried out the searches.

According to sources, the Income Tax Department deployed multiple teams for this operation, which included searches at the residences of the jeweller’s family members.

Read More Airfares skyrocket across India amid IndiGo’s massive disruptions

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