Taxmen recover Rs 20 mn from Ranchi doctor
The I-T department has recovered a huge amount of unaccounted money from a doctor in Jharkhand.india Updated: Jul 20, 2006 19:42 IST
The Income Tax (I-T) department has recovered a huge amount of unaccounted money running into millions of rupees from a doctor in Jharkhand.
During a raid spread across three cities, taxmen seized Rs 20 million ($427,035) in cash, a fixed deposit of over Rs 16.5 million and several investment documents from a doctor in Ranchi.
IT officials on Tuesday raided the house of neuro-physician KK Sinha and that of his relatives in Ranchi, Patna and Delhi. In the raid that lasted for more than 34 hours, the officials also seized several other documents indicating Sinha could have more wealth than recovered.
The department has sealed all the bank accounts and lockers belonging to Sinha.
"We are going through the seized documents, which we hope will reveal more investments and black money of Sinha," said a source in the department.
The raid was conducted after the department was informed that Sinha was filing his IT returns much lower than his actual income, and he had made numerous investments, including in hotels in Mauritius.