Income Tax Raid: "Wedding Party" Officers Seize Gold, Diamonds and Cash

By John Jeffay / August 15, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Income tax officials in India posed as a 250-strong wedding party in a series of raids that netted undeclared gold, diamonds and cash worth $49m.The Income Tax department (IT) used 120 vehicles in the operation, decked out for a baarati, or the wedding procession that accompanies a bridegroom to the venue.They raided premises, warehouses, and farmhouses linked to two steel, clothing, and real estate businesses in the Jalna and Aurangabad districts of Maharashtra state.The officers seized $7m in cash, 32 kgs of gold, and diamonds worth $1.7m.

Recent News

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com

Gold stocks down on flat metal price and mixed equities

July 01, 2024 / www.canadianminingreport.com

Snowline Gold reports Initial Resource Estimate

June 24, 2024 / www.canadianminingreport.com

Inflation subsiding and rate cuts starting internationally

June 24, 2024 / www.canadianminingreport.com

Inflation rebound continues to reverse

June 17, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok