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Unaccounted money trail detected in I-T raids on Ludhiana jewellers

The raids were conducted after there was intel about the evasion of tax by these store owners.

Special Judge Ajay Gupta asked the investigating officer to probe the allegations of demand for money made through the phone call and whether it had any connection to his death. (Representational image)

The income tax (I-T) raids on two Ludhiana jewellers and a departmental store owner concluded on Sunday night, with the department seizing records of sale and purchase and finding details of unaccounted money from the premises of these stores.

However, officials haven’t disclosed the exact amount of unaccounted money found in the raids.

The raids were conducted after there was intel about the evasion of tax by these store owners.

The I-T raids started in the wee hours of November 24 on Nikkamal Jewellers at Mall Road, Sardar Jewellers at Ghumar Mandi, and Mani Ram Balwant Rai’s departmental store. It has been learnt that over 20 premises of these owners were searched in four days by the I-T investigation wing.

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Mani Ram Balwant Rai has a grocery shop as well as a cosmetics store near Kailash Chowk. He also has another cosmetics store at Ghumar Mandi. Sources said that documents pertaining to many real estate deals have also been seized.

Apart from these stores, even their residential premises and bank lockers, among others, were searched by the I-T wing.

First published on: 29-11-2022 at 07:45 IST
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