Brief by Shorts91 Newsdesk / 10:14am on 16 May 2024,Thursday India
The Income Tax Department seized unaccounted assets worth Rs 170 crore in a 72-hour raid in Nanded, Maharashtra. The search operation targeted Bhandari Finance and Adinath Urban Multistate Co-operative Bank, owned by six siblings. Rs 14 crore in cash and 8 kg of gold were recovered. The raid, which began on May 10, involved hundreds of officials from multiple cities. The massive scale of tax evasion was evident in the 14 hours it took to count the recovered cash. The raid covered multiple locations, including private residences, in a significant crackdown on tax evasion.
