Maharashtra: Assets worth Rs 390 crore seized in tax raids on business groups in Jalna

Jalna: The Income Tax Department seized around Rs 390 crore of "benami" property or "unaccounted" assets during raids at multiple locations linked to some business groups in Maharashtra's Jalna over tax evasion, officials have said.

The seized assets included Rs 56 crore in cash and 32 kilograms of gold, pearls and diamonds worth Rs 14 crore. Officials also recovered some property documents and digital data during the raids. 

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The raids were conducted between August 1 and 8 at the residential and official premises linked to two business groups dealing in steel, clothing, and real estate. 

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The Income Tax Department had formed five teams comprising 260 officials from across the state for the search operation after receiving inputs about alleged tax evasion by these business groups. (with Agency inputs)

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• #benami
• #tax evasion