The income tax department of Bihar said on Tuesday that it detected more than Rs 100 crore in unaccounted transactions and Rs 12-crore in gold and diamond stock during a search and seizure action in five cities. The raids were done on a few groups engaged in the business of gold and diamond jewellery and real estate on Thursday.
These searches were carried out at more than 30 premises spread over Patna, Bhagalpur, Dehri-on-Sone, Lucknow, and Delhi, according to a statement from the ministry of finance.
During the search operations, unaccounted cash and jewellery worth more than Rs 5 crore have been seized.
A total of 14 bank lockers have been put under restraint. According to the statement, the search has resulted in the discovery of unaccounted transactions totaling more than Rs 100 crore.
During the course of the search, a large number of incriminating documents and digital evidence demonstrating evasion of income have been found and seized.
The statement said that analysis of seized evidence revealed that this group had invested its unaccounted income in cash purchases of jewellery, renovation of shops, and immovable properties.
The finance ministry statement said this group had been found to have introduced unaccounted money of over Rs 12 crore in its books of account.
