Guwahati: The Income Tax Department on Thursday seized “bemani” assets worth Rs. 390 crores at steel producers’ homes, businesses, and factories of Jalna district of Maharashtra over tax invasion.
The unexplained assets were recovered by the Income Tax agency between August 1 and August 8 following a protracted raid.
The defendants were reputedly well-known land developers and businesspeople.
The seizure includes Rs. 58 crores in cash, 32kg of gold jewellery, diamond and pearl jewellery of worth Rs. 16 crores and unaccounted assets worth over Rs. 300 crores.
The exact quantity of money seized was counted by the crew in about 13 hours.
After receiving evidence regarding possible tax evasion by the accused business organisations, the income tax department assembled five teams for a search operation, totaling 260 officials from across the state.
The stolen money was reportedly found behind cabinets, mattresses, and in some cases, suitcases.
These were recovered from farmhouse outside Jalna as they couldn’t find in their residence.