Income tax dept digs up dodgy transactions worth ₹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 ₹41 crore and concealed financial transactions of nearly ₹17 crore in Jammu & Kashmir, primarily in the Valley that involve several local businessmen.

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

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 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 ₹1.44 crore and unaccounted jewellery of ₹2.48 crore.