Nashik: Income Tax Department Raid On Surana Jewellers, ₹26 crore Cash and ₹90 Crore Assets Seized

The Income-tax department conducted Raid on Nashik based Surana Jewellers on Friday. In the search team discovered a significant amount of wealth. The raid was in response to allegation of unreported transaction. It Department has sized approximately 26 crore in cash and document related to to unaccounted assets worth Rs 90 crore.

Authorities conducted a raid due to suspicions of financial misconduct by a proprietor, leading to a 30-hour operation that involved officials breaking furniture in the bungalow to find hidden cash. The incident stirred up the entire area. The Income Tax Department's team targeted various locations, including Surana Jewellers in Nashik's Canada Corner area, the owner's home, and his construction firm, Mahalaxmi Builders. 

#WATCH | The Income Tax Department launched a raid on Surana Jewellers in Nashik, in response to alleged undisclosed transactions by the proprietor. About Rs 26 crore in cash and documents of unaccounted wealth worth Rs 90 crore have been seized in raids carried out by the Income… pic.twitter.com/lnv9wAGi3N

— ANI (@ANI) May 26, 2024

Also Read: - Nashik: Income Tax Department Conducts Raids on Surana Jewellers Over Alleged Undisclosed Transactions

 As per ANI reports the raid began early in the morning, with teams going through financial records and documents all day. Approximately fifty officers from Nashik, Nagpur, and Jalgaon took part in the operation, causing worry among other business owners suspected of tax evasion. Adequate police forces were present to maintain order during the unexpectedly conducted raids. Simultaneously, raids in Manmad city and at a businessman's residence and office in Malegaon were also carried out by the Income Tax Department. These actions are part of the department's ongoing efforts to uncover undisclosed wealth through raids conducted across the state in recent months.