Bhopal: Rs 2.50 crore unaccounted assets & counting

Bhopal: Rs 2.50 crore unaccounted assets & counting

Staff ReporterUpdated: Wednesday, May 29, 2019, 02:08 AM IST
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Bhopal: Income Tax department raids on four premises of road contractor in state capital has revealed unaccounted assets worth Rs 2.50 crore. While raid on contractor Nilay Jain continued on for the second day, another IT team conducted a survey at three shops in Bairagarh on Wednesday. The total seizure from Jain by the IT team reached Rs 2.50 crore on Wednesday. IT sleuths have discovered entry of some hawala accounts of about Rs 1.5 crore value. One of the lockers revealed gold jewellery of about Rs 80 lakh.

The IT raids that begun on Tuesday at Jain’s residence, office and two other premises had revealed Rs 1 crore in cash from his Arera Colony residence. Moreover, jewellery worth Rs 70 lakhs was also recovered from Jain’s bank locker. Overall unaccounted assets worth Rs 1.70 crore were unearthed on the first day of raid. With jewellery worth Rs 80 lakhs recovered from another locker on Wednesday the overall seizure from Jain has reached Rs 2.50 crore.

Another IT survey begins at 3 Bairagarh shops

In another development, satellite town of state capital- Bairagarh was taken by surprise when separate IT teams raided three shops in the busy textile market on Wednesday afternoon. Sources termed the raids as survey. The teams conducted raids at Raja Textiles, Raj Manidr and Rajyashri showrooms. Owners of these shops are related to each other and are office bearers in trader organizations. Sources said that tax evasion to tune of several crores is expected.

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