Cash Worth Rs 2.03 Crore, Jewellery and Ornaments worth the Value of Rs.5.18 Crore, Fixed Deposits of Rs. 4.4 Crore, and Large Number of Documents Seized During the Search Operations by Income Tax Department

It has been reported in certain section of the media that there has been a leak in a search case conducted recently by the Income Tax department on a ‘liquor baron’. It is also being reported in the media that CBDT has instituted an inquiry into the matter.

In this regard, Central Board of Direct Taxes (CBDT) has mentioned that during the search operations held on 1st February, 2012 with regard to the concerned liquor baron, cash of Rs.2.03 Crore, jewellery and ornaments worth the value of Rs.5.18 Crore, fixed deposits of Rs.4.4 Crore, and large number of documents were seized. Further, restraint orders on 13 bank lockers and 2 other premises are pending. The search is yet to be completed.

As the matter is still under investigation, these media reports are found without any factual basis and only speculative.

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Category : Income Tax (28832)
Type : News
Tags : income tax search (103)

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