National

Income tax raid: Rs 152 cr unaccounted income unearthed in Bengaluru

Anil Urs Bengaluru | Updated on January 16, 2018 Published on December 02, 2016

The Income-Tax Department of Karnataka and Goa conducted a search on two Karnataka government engineers and two contractors on November 30.

In these searches, cash in excess of Rs 6 crore, bullion of about 7 kg and jewellery weighing about 9 kg was found from their residences (gold and jewellery is valued at approximately Rs 5 crores). Of the cash found, Rs 5.7 crore is in new Rs 2,000 notes.

About Rs 90 lakh was in the old demonetised currency. In addition, several property documents were also found, and seized. It was also noticed that these persons were in possession of high-end luxury cars.

Total admission of unaccounted income in the group stands at Rs 152 crores. Investigations are continuing.

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Published on December 02, 2016
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