Update on income tax raid at jewellery showroom
Undeclared assets found in jewellery showroom.
Income tax raid was carried out at a jewellery showroom at Hospital road. As per reports, undeclared assets have been revealed in this income tax raid.
A jewellery showroom at Hospital road witnessed raid by Income tax department. The department officers took physical verification of stocks in the jewellery showroom. Sources say that undeclared assets have been discovered in the raid. 5 kilogram of gold was over and above registered stocks.
The jewellery showroom was surveyed the entire day on Wednesday. The income tax survey team kept checking physical stocks. The estimated value of undeclared assets turned out to be 1.7 crore rupees. All documents have been seized by income tax department.media reports