March 25, 2023


The raid was conducted by the Central Board of Direct Taxes (CBDT) on 17 November.
Action in Patna, Bhagalpur and Dehri on Son in Bihar, Lucknow and Delhi.
Unaccounted cash and jewelery worth over Rs 5 crore were seized.

New Delhi. The Income Tax Department has recently unearthed ‘unaccounted’ income of over Rs 100 crore after raids on some business groups in Bihar dealing in real estate and diamond jewellery.

According to the news agency Bhasha, the Central Board of Direct Taxes (CBDT) informed on Tuesday that the raids were conducted on November 17 in about 30 premises of these groups in Patna, Bhagalpur and Dehri-on-Sone in Bihar, Lucknow and Delhi. . According to the CBDT, unaccounted cash and jewelery worth over Rs 5 crore were seized during the raids and 14 bank lockers were sealed.

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attempt to conceal income

Without naming the business groups, the CBDT said in a statement, “In the case of a group dealing in gold and diamond jewellery, examination of documents and other material revealed that it had exchanged jewelery for cash to conceal its unaccounted income.” Bought as.

The board said that during the investigation, it was found that the group has booked unaccounted amount of more than Rs 12 crore in its books of accounts in the guise of advances from customers. At the same time, in the case of another group engaged in real estate business, evidence has been found of ‘unaccounted’ cash transactions in the purchase of land, construction of buildings and sale of apartments.

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The seized evidence in this case has confirmed unaccounted transactions and the quantum is more than Rs 80 crore. CBDT said that so far unaccounted transactions of more than Rs 100 crore have been detected.

Tags: business news, business news in hindi, CBDT, income tax department, income tax raid, income tax raids

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