IT raid on jewelry shop in Nashik, Maharashtra: 26 crore cash and property documents worth 90 crore

Mumbai. Income Tax (IT) raided Surana Jewelers in Nashik, Maharashtra on Sunday (May 26). Raids were conducted at its owner's residence and his construction company Mahalaxmi Builders. IT has taken this action against the owner of the jewelry shop in a case of unknown transactions. During the raid, about Rs 26 crore in cash and documents of unaccounted property worth Rs 90 crore were seized. This raid was conducted to investigate undeclared income and possible suspicious financial activities. The Income Tax Department is investigating all the financial transaction records of both Surana Jewelers and Mahalakshmi Builders.