Sun. Sep 25th, 2022

The Income Tax department recovered Rs 58 crore in cash, 32 kg of gold in raids carried out on an industrialist’s premises in Maharashtra’s Jalna and Aurangabad.

The Income Tax department recovered Rs 58 crore in cash, 32 kg of gold in raids carried out on an industrialist’s premises in Maharashtra’s Jalna and Aurangabad. (Photo: India Today)

The Income Tax Department carried out raids on the premises of a steel, cloth and property developer trader in Maharashtra from August 1 to 8. Officials seized illegal property worth Rs 390 crore, including Rs 58 crore in unaccounted cash and 32 kg of gold.

The Nasik wing of the income tax department, in the first week of August, conducted searches at the offices and residences of an industrialist in the cities of Jalna and Aurangabad.

According to information from Income Tax department sources, assets worth Rs 390 crore have been seized, including Rs 58 crore in unaccounted-for cash and 32 kg of gold.

It took the department 13 hours to count the seized cash. As many as 260 officers and employees from across the state participated in the proceedings. All these officers were divided into five teams.

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