Income Tax Department conducts searches in Bhopal

The Income Tax Department carried out a search and seizure operation on 20.08.2020 at various locations in Bhopal.

The key person of one of the groups covered used to run a bangles shop. Another person covered is a property builder/developer and is also running a cricket academy. During the course of the search operation, documents pertaining to about 100 properties in the nature of plots, flats and agricultural lands having market value of about ₹ 105 crore have been found. Documents indicate that a huge amount of undisclosed cash was invested in these properties in the last 6 years. Most of the properties have been found in the names of persons of no means, indicating that these are benami properties. During the search, cash and jewellery worth ₹ 1.8 crore have been seized.

Further, documentary evidence gathered during the search operation indicates partnership/association with some retired government servants and holding of their benami properties.

 Investigations are still in progress.