Income Tax Department investigates Surana Jewellers in Nashik and seizes $10.8 million worth of assets and $3.1 million in cash.
In addition to undeclared wealth, the Income Tax Department raided Surana Jewellers and other businesses owned by its owner in the Indian city of Nashik, Maharashtra, and took $3.1 million (Rs 26 crore) in cash, according to a news agency report on Sunday, May 26. The owner of Surana Jewellers was allegedly involved in secret transactions, which prompted the raid.
Additionally, records of unreported wealth totaling $10.8 million (Rs 90 crore) were also taken. ANI on X posted a video of a raid in which department personnel were seen removing numerous bundles of cash from the Surana Jewellers store.
An English Jagran report on Sunday stated that the raids lasted about 30 hours and focused on various places, including the proprietor’s home and his construction firm. It was reported that approximately 50 officials from Nashik, Nagpur, and Jalgaon took part in the operation.
The raids commenced early in the morning as officials reviewed financial records, transactional data, and relevant documents.
There was a noticeable police presence at the raided locations.
(With inputs from agencies)