Income Tax Department Raids Jewelers
Bhopal: Taking the government’s drive further to dig out black money the sleuths of the Income Tax Department today conducted raids at many jewelry showrooms of Bhopal. The raids were conducted at eight business establishments of showrooms of four jewelers whose names are yet to be confirmed officially.
The raids continued late night when this news report was filed and the IT department sleuths did not disclose much about the raids to the media persons. It is learnt that large scale tax evasions have been found in the documents confiscated by the IT department.
Sources told that the raids were carried out against Sajawat jewelers, Agrawal Jewelers, Alankar Jewelers, etc. The establishments are spread all over the city including New Market, Old Market and Bitthan Market.
Sources in the income tax department said that documents of sale and stock found from the shops are being verified to cross check the tax evasion. It may be mentioned that a large number of people brought gold and other jewelry items to convert black money into accountable money after the government’s decision of demonetization from bullion traders.
Sources say that the income tax department would also try to find such black money holders who bought gold and other jewelry items of large amounts recently.
The real picture of the raids would emerge within a couple of days. The raids were also conducted in other parts of the state.-WTN
