Bengaluru: Income Tax sleuths on Tuesday conducted raids on the shops of gold traders and checked the documents in Karnataka's Bengaluru. The raid was carried out in more than 25 jewellery shops in the city in the wake of income tax evasion. The officials continued their search in many places, including Jayanagar, Yeshavantpur, Basavanagudi and Chikkapet.
Similarly, the officials also raided the houses of the jewellery shops' owners. Important documents were seized during the inspection. The raid is underway and more than 300 IT officials are raiding and searching around 25 locations in the city. IT officials have deployed City Armed Reserve Police personnel for security as a precautionary measure. At least 15 officials conducted a search on a jewellery shop in Banashankari and the shop owner's Jayanagar house. Other jewellers' shop was also raided. Due to discrepancies in tax payments, officials are checking the files and accounts.
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Last year, the Income Tax Department officials raided the residence of rice mill owner Bakibul Rahman accusing him of huge tax evasion. A marathon search was conducted at a flat of Rahman in Madhyamgram. According to Income Tax department sources, there has been an allegation of tax evasion of about Rs 500 crore against Rahman. After the search, several documents and papers were seized by the Income Tax department officials. However, nothing has been made clear about what those documents contain. The officers spoke to the businessman's brother-in-law and family members as well.
