Daijiworld Media Network - Mangaluru

Mangaluru, Feb 13: Sleuths of the Income Tax (I-T) department conducted raids on multiple businesses in Mangaluru, uncovering a massive financial fraud. 

The IT sleuths carried out raids and searches of several trading companies at their offices, warehouses, and residences of the owners of these companies. These companies are primarily involved in the areca nut trade and other related businesses. They operate not only in Mangaluru but also in states like Uttar Pradesh, Bihar, Delhi, and other northern regions of India.

During the raids, the IT sleuths discovered transactions amounting to thousands of crores of rupees and identified significant income tax evasion. Additionally, illegal activities related to pan masala, supari, and other gutka products were also uncovered.

The sleuths seized large sums of cash, amounting to crores of rupees, during the operation. Furthermore, valuable jewellery, worth several crores, was found in the residences of the company owners without proper documentation.

The Income Tax department has stated that investigations are ongoing and further actions will be taken based on the findings.