Income Tax team detects Rs 550 cr unaccounted cash

NEW DELHI: The Income Tax Department on Monday said that they conducted search and seizure operations at the premises of a diversified business group across Haryana and Punjab's Mohali and detected unaccounted cash around Rs 550 crore. The IT team has also recovered incriminating documents during the raid on the group which deals with manufacturing of plywood, MDF boards, inverters, and vehicle batteries, and in the refining of lead. An IT official said that more than 30 premises across the cities of Yamuna Nagar, Ambala, Karnal, and Mohali were covered in the search operation. The search action has resulted in seizure of unaccounted cash of more than Rs 6.60 crore and jewellery valued to the tune of Rs 2.10 crore. A total of 22 bank lockers have been kept under restraint. (IANS)

Also Read:  Centre extended deadline for Income Tax Return to March 15, 2022

Also watch: