Tax raids unearth undisclosed cash and properties worth crores in J&K4Photo© timesofindia.indiatimes.com

Tax raids unearth undisclosed cash and properties worth crores in J&K

, 9 news, 0 views

In a series of searches conducted in Jammu & Kashmir on Thursday, the Income Tax Department has seized undisclosed cash of Rs 1.44 crore and unaccounted jewellery worth Rs 2.48 crore.

The tax department, in a statement, said these actions are part of the continued drive against use of black money by disruptive elements in the state.

“The operations also send a message of deterrence and obviation to those intending to vitiate the democratic process of free and fair elections,” it said. Searches were conducted at five locations in Kashmir where undeclared property transactions of more than Rs 41 crore and concealed financial transactions of nearly Rs 17 crore were detected by the department.