I-T deparment conducts searches against bullion traders in Bengaluru

Bengaluru: The Income Tax Department has conducted searches against a number of jewellery and bullion traders in Bengaluru as part of a tax evasion probe against them, official sources said Friday.

The raids that were launched Thursday were underway and the department has made some seizures that include “incriminating” documents, some entries made on notesheets and cash.

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The official sources, however, did not disclose the exact amount of cash seized and other proofs unearthed by the I-T teams.

Officials said they were investigating if any cash was being moved from here to the neighbouring poll-bound state of Telangana.

PTI