New Delhi, October 16 (Press Ki Taquat)
The CBDT on Monday said the Income Tax department had seized Rs 94 crore cash, gold and diamond jewellery worth Rs 8 crore and 30 luxury watches of foreign make after raiding some government contractors and real estate developers in Karnataka and some other states.
The searches were launched on October 12 and a total of 55 premises were covered by the department in Bengaluru and some cities in Telangana, Andhra Pradesh and Delhi.
“Further, a cache of about 30 luxury wristwatches of foreign make were unearthed from the premises of a private salaried employee, not engaged in the business of wristwatches,” it said without identifying the accused entities.
The Central Board of Direct Taxes frames policies for the Income Tax department.
