IT detects Rs 200 cr black money

Mumbai/Jaipur: The income tax department’s raids started on Wednesday morning on two big hotel groups of Udaipur and their business associates related to destination weddings ended on the fourth day on Saturday.

Income tax officials have claimed to have seized black money worth more than Rs 200 crore in the action. The officials seized cash worth Rs 3.30 crore, jewellery worth Rs 5.54 crore, and documents related to the investment.

The IT sleuths on Friday opened 17 out of 20 lockers, and sealed three lockers. It is being estimated that apart from jewellery and cash worth lakhs of rupees, investment-related documents will also be found in these lockers. After the raids are over, the Income Tax Department will also tighten its grip on those who make cash payments in wedding ceremonies and the GST Dept may also take further action in this matter.