Kozhikode: Black money transactions worth Rs 102 crore were unearthed during an Income Tax (IT) raid conducted at a second hand car showroom in Kozhikode on Friday.
Acting on a tip-off, the Kozhikode Division of the Income Tax Department conducted a raid at Royal Drive showroom, owned Mujeeb Rahman, a resident of Malappuram. During which, crores of rupees were found in the showroom.
Raids are being conducted at the Thiruvananthapuram, Ernakulam, Malappuram and Kozhikode branches of the car showroom for the last two days. Black money transactions involving several national-level celebrities from the field of cinema and sports were revealed during the inspection. An Indian cricketer and prominent Malayalam film stars are suspected to be involved in the incident.
The raid was conducted following information about transactions of large sums of money being done through the Royal Drive showroom. It has been revealed that celebrities bought luxury cars and sold them at the showroom after using the vehicles for a year or two.
Notably, the money was received without recording the transactions in their accounts. The inspection also revealed that the cars were bought from the showroom with black money.
The Income Tax Department has decided to send notices to all those involved.
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