45 kg gold seized in IT raid on transport company

During the three-day raid on Udaipur Golden Transport and Logistics Company, the Income Tax Department has seized 45 kg of gold out of 50 kg, considering it to be undeclared income. At the same time, an amount of Rs 4 crore out of 5 crore has also been seized as undeclared.

The purchase papers and the source of income for purchasing them will also be investigated. The department has seized more documents during the raid, the investigation of which is ongoing.

Let us tell you, on 28th November, the Income Tax Department started raiding 23 locations of the transport company including its offices, houses, farm houses and resorts in Udaipur, Jaipur, Banswara, Mumbai and Ahmedabad. The team is investigating the gold and cash worth crores being continuously recovered from the locations of company owner Tikam Singh Rao and his brother Govind Singh Rao.

The purchase documents and the source of income for purchasing these will also be investigated. On the second day of the operation, on November 29, 25 kg gold and Rs 3 crore were recovered from the company owner’s house. Then on November 30, 25 kg gold and Rs 2 crore were recovered from 7 bank lockers. In this way, a total of 50 kg gold and Rs 5 crore in cash were recovered.

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