Income Tax Dept Carries Out Various Raids Across Country Seizes Cash Worth Rs 1000 Crores

Latest reports have been coming in from Income Tax Department which has carrried out simultaneous raids in various cities of the country in the past 48 hours.

As per reports I-T Dept on Mar 4 has carried out searches at 27 premises located in Chennai, Mumbai, Coimbatore, Madurai, Trichy, Trissur, Nellore, Jaipur and Indore.

These searches are associated with 2 Chennai based groups, one of which is a leading bullion trader in Tamil Nadu and the other is one of the biggest jewellery retailers.

The Income Tax Department searches, so far, have resulted in the detection of undisclosed income of more than Rs. 1,000 crores. 

As per confirmed sources an unaccounted cash of Rs 1.2 crore has been seized so far. Further investigation are also underway.