Income tax raids in Odisha, Jharkhand, West Bengal result in seizure of over Rs 351 crore cash
PTC News Desk: The Income Tax Department conducted search operations in Odisha, Jharkhand, and West Bengal, resulting in the seizure of undisclosed cash totalling more than Rs 351 crore and unaccounted jewellery totalling more than Rs 2.80 crores.
On December 6, the Income Tax Department conducted a search and seizure operation on a group involved in the manufacture and sale of country liquor, grain-based alcohol, bottling of foreign liquor, and running hospitals and educational institutions. The group's business is run by a family based in Ranchi, Jharkhand. One of the group's family members is also a Politically Exposed Person who lives in Ranchi, Finance Ministry stated.
During the search, the agency discovered and seized a large amount of incriminating evidence in the form of documents and digital data. The cash discovered and seized revealed the group's unaccounted income from an array of businesses, as admitted by the key employees in charge of the business operations. One of the family members who is actively involved in the business has also verified this.
According to the agency, one of the members of the group holds a political position and lives in Ranchi. According to the preliminary analysis, evidence revealed records of unaccounted sales of country spirits, systematic details of undisclosed cash receipts and references for the movement of unaccounted cash.
According to the Finance Ministry, a significant amount of cash totalling 329 crore was discovered and seized from obscure and dilapidated buildings, hidden chambers, and hidden safe houses in small towns in Odisha, including Sudapada and Titlagarh in Bolangir district and Khetrajrajpur in Sambhalpur district.
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