Income Tax department seizes property worth Rs 1.8 crore in Bhopal

The Income Tax Department carried out a search and seizure operation on Thursday at various locations in Bhopal where property worth Rs 1.8 crore were seized, the Central Board of Direct Taxes (CBDT) said.

During the course of the search operation, documents pertaining to about 100 properties in the nature of plots, flats and agricultural lands having a market value of about Rs 105 crore have been found.

Documents indicate that a huge amount of undisclosed cash was invested in these properties in the last six years. Most of the properties have been found in the names of persons of no means, indicating that these are Benami properties. During the search, cash and jewellery worth Rs 1.8 crore have been seized, CBDT said.

The key person of one of the groups covered used to run a bangles shop. Another person covered is a property builder/developer and is also running a cricket academy.

Documentary evidence gathered during the search operation indicates partnership/association with some retired government servants and holding of their Benami properties.

Further investigation is in progress.

( With inputs from ANI )