IT sleuths conduct raids at residence linked to former corporator; Over 40 crores seized

Over Rs 40 crores were seized from the residence of a former corporator's close relative. According to officials privy to the investigation, the cash was packed in cartons and stashed under the bed. Raids are still underway at five locations linked to the former corporator.

Bengaluru (Karnataka):In a significant operation, the Income Tax (IT) department recently conducted a series of raids targeting properties associated with the former corporator leading to the seizure of a staggering sum exceeding Rs 40 crores. The IT officials embarked on their mission in the late hours of Thursday evening, scouring the Atmananda Colony situated in RT Nagar, Bangalore, where they stumbled upon an eye-popping amount of unaccounted wealth.

Sources close to the investigation have indicated that the former corporator's close relative owns the flat where the money was discovered. The meticulous operation resulted in the recovery of an estimated Rs 42 crores, carefully stashed away in cartons concealed beneath a bed within one of the flat's rooms. This mind-boggling sum of cash was believed to have been earmarked for transportation to states set to hold elections later in the year, further raising eyebrows and underscoring the gravity of the situation.

The raids, still ongoing at the time of this report, have been extended to encompass a total of five different locations, all linked to the former corporator. These operations have not only gripped the local population in a state of anticipation but also prompted a wave of speculation and discussions concerning the motivations and potential implications of the enormous cache of money.

The sweep of these actions was far-reaching, as IT officials simultaneously conducted searches at approximately ten locations, spanning various parts of Bangalore. These locations included Mullur near Sarjapur, RMV Extension, BEL Circle, Malleswaram, Dollars Colony, Sadashivanagar, and Mattikeri. The multifaceted nature of this investigation underscores its scope and complexity, making it one of the most high-profile income tax raids in recent memory.