Property worth Rs 390 crore seized in tax raids in Maharashtra’s Jalna

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Property worth Rs 390 crore seized in tax raids in Maharashtra's Jalna

It took around 13 hours for Income Tax officials to calculate the exact amount of cash

Jalna:

Officials said that “benami” assets or “unaccounted” assets worth around Rs 390 crore were seized by the Income Tax Department during raids at several places in Maharashtra’s Jalna linked to certain business groups over tax evasion.

The seized assets include Rs 56 crore in cash and 32 kg of gold, pearls and diamonds worth Rs 14 crore. The officials also recovered some documents and digital data of the property during the raid.

The raids took place between August 1 and 8 at residential and official premises belonging to two business groups dealing in steel, clothing and real estate.

It took the officials about 13 hours to calculate the exact amount of cash seized during the raids.

After receiving inputs about alleged tax evasion by these business groups, the Income Tax Department had formed five teams of 260 officials from across the state for the search operation.

Officials said more than 120 vehicles were used in the operation.

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