Watch: Major I-T Raid on Surana Jewellers in Nashik Uncovers Rs 26 Crore in Cash and Unaccounted Wealth Worth Rs 90 Crore

Nashik, Maharashtra, May 26, 2024 – The Income Tax (I-T) Department has launched a significant raid on Surana Jewellers located at Canada Corner, Nashik. This operation, targeting alleged undisclosed transactions by the proprietor, began on Friday and has uncovered Rs 26 crore in cash and documents revealing unaccounted wealth worth Rs 90 crore.

The raid is part of an ongoing crackdown on financial irregularities and tax evasion. I-T officials meticulously searched the premises of Surana Jewellers, which has been under scrutiny for suspicious financial activities.

Key Findings of the Operation:

  1. Cash Seizure: The raid resulted in the seizure of Rs 26 crore in cash, indicating a substantial amount of undeclared money.
  2. Unaccounted Wealth: Documents found during the raid reveal unaccounted assets worth Rs 90 crore, including properties and investments that were not disclosed to tax authorities.
  3. Detailed Investigation: The operation has provided critical evidence of systematic tax evasion, prompting further investigation into the financial dealings of Surana Jewellers and its proprietor.

The I-T Department has intensified its efforts to clamp down on tax evasion and undisclosed wealth, focusing on sectors with high potential for financial misconduct. The evidence collected from Surana Jewellers will lead to further legal actions, including hefty penalties and possible prosecution.

Authorities have emphasized their commitment to ensuring compliance with tax laws and cracking down on those who attempt to circumvent financial regulations. This raid underscores the broader efforts to enforce financial transparency and accountability across the country.

The community and stakeholders are closely watching the developments, as this high-profile raid sends a strong message against tax evasion and reinforces the importance of adhering to financial laws. The I-T Department has assured that more such operations will follow to root out financial misconduct and uphold the integrity of the economic system.