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Bengaluru: Income Tax raids strike rich, yield Rs 7.1 crore in cash and gold

Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Apr 13: Karnataka and Goa region of income tax department, which has been keeping a close watch on unauthorized expenditure during the Lok Sabha election and illegal transfer of money, has conducted raids on contractors and entrepreneurs in various parts of Karnataka and Goa. These raids have yielded Rs 3.19 crore in cash and 13.5 kg of gold ornaments worth Rs 3.9 crore.

On April 11, the department had undertaken search operations in 23 spots including Bengaluru, Chitradurga and Kolkatta in connection with three entrepreneurs based in the city. They found Rs 85 lac in cash and 13.5 kg gold ornaments, sources in the department revealed.

Raids had also been conducted on residences and offices of six PWD contractors based in Hubballi, Gadag and Ballari. During these raids, excess income of Rs 40.5 crore was found. Rs 1.29 crore in cash, 10.3 kg gold ornaments, 2.22 kg gold biscuits and 12.5 kg gold ornaments were seized.

Houses of several businessmen were searched in Chikkodi, Belagavi, Gokak and Nippani. During the searches in residences and offices of a person from Udupi who operates bus transport business, ten lac rupees which was not backed by records, was seized.

During the searches relating to a person who was involved with cash transfer and Matka gambling, searches in Goa uncovered Rs 33 lac in cash.

The department stated that the persons whose residences and offices were raided were not leaders of any political parties, nor were they staff members of offices run by MPs and MLAs.

Comment on this article

  • Jiyo our Jeenedo, Karkala & Mangalore

    Sun, Apr 14 2019

    Who's money are they spending.

    Lets stop paying taxes

    DisAgree Agree [1] Reply Report Abuse

  • NAVEEN BARKE, mangalore

    Sat, Apr 13 2019

    Chaukidar as helped all the rich people to directly meet the bank managers to exchange their old notes and make money and store for him. And poor people were standing on the queue for Rs 2,000 to collect from ATM machines for their daily living. what a India Jai Hind

    DisAgree [7] Agree [15] Reply Report Abuse


    Sat, Apr 13 2019

    Digital India of Jaitley and Modiji. They are the first International Economists of India. Demonetization has rooted out cash flow. Wow! Modiji thought its chai-pakoda economy. I pity those advised him or the dream he got or those with fake certificates who encouraged him to demonetize so that he could have the title of 'Father of Digital India'. We live in a fake world, fake leaders with fake degrees.

    DisAgree [6] Agree [19] Reply Report Abuse


    Sat, Apr 13 2019

    There are so many Poor people sleeping empty stomach
    Look at our Demon politicians playing with money

    DisAgree Agree [30] Reply Report Abuse

  • Rathan, Mangalore

    Sat, Apr 13 2019

    See the frustration of chaddiless. If raid is done and found cash /gold /silver or unaccounted money they say failure of demonetization. How come it is highest in Karnataka State? Because it is commission govt running here. Wht ACB is not raiding? Why failure of intelligence report?
    All nautanki and dombarata by chaddiless supporters

    DisAgree [23] Agree [21] Reply Report Abuse

  • abdul munim, mangaluru

    Sat, Apr 13 2019

    Narendra Modi's claim that black money will be wiped out after the demonetization is totally turned out to be a farce. See the bundles of Rs 2000 notes. The demonetization, in fact, helped the black marketeers to stock more money in less notes.
    This is the problem when the country is headed by a chaddi. His thoughts will never grow to be a trouser.

    DisAgree [8] Agree [32] Reply Report Abuse

  • Valerian DSouza, Udupi/Mumbai

    Sat, Apr 13 2019

    So much cash collection even after demonetization? Demonetization failed in its purpose completely!
    Where does so much seized cash goes?

    DisAgree [6] Agree [30] Reply Report Abuse

  • Monty Dotor, Mangalore

    Sat, Apr 13 2019

    Distribute this money to taxpayers.

    DisAgree [3] Agree [37] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Apr 13 2019

    Show this Black Money to Chowkidar ...

    DisAgree [15] Agree [45] Reply Report Abuse

  • Naveen Shetty, Mangalore

    Sat, Apr 13 2019

    Where is Narendra Modi and his supporters who said that after Demonetization there will not be any black and illegal money?

    Ask the Chaukidar to come to the the 'Chauraha' to give the 'Sazaa' as he (Feku) himself said.

    DisAgree [17] Agree [48] Reply Report Abuse

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Title : Bengaluru: Income Tax raids strike rich, yield Rs 7.1 crore in cash and gold


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