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Income tax dept digs up dodgy transactions worth Rs 17 crore in J&K

The income tax (I-T) department on Friday said it has documentary evidence of undeclared property deals of more than Rs 41 crore and concealed financial transactions of nearly Rs 17 crore in Jammu & Kashmir, primarily in the Valley that involve several local businessmen.

india Updated: Mar 16, 2019 10:17 IST
HT Correspondent
HT Correspondent
New Delhi
The income tax department stumbled upon these details after it conducted searches in the Kashmir valley on Thursday, an official statement said.(Picture for representation)

The income tax (I-T) department on Friday said it has documentary evidence of undeclared property deals of more than Rs 41 crore and concealed financial transactions of nearly Rs 17 crore in Jammu & Kashmir, primarily in the Valley that involve several local businessmen.

The department stumbled upon these details after it conducted searches in the Kashmir valley on Thursday, an official statement said.

“ These actions are part of the Department’s continued drive against use of black money by disruptive elements in the State,” the statement said. The department has already seized cash of Rs 1.44 crore and unaccounted jewellery of Rs 2.48 crore.

First Published: Mar 16, 2019 01:55 IST