Jabalpur, Jan 10: The Income Tax department in a raid recovered as much as Rs 8 crore cash and Jewellery worth Rs 5 crore from a Madhya-Pradesh-based liquor businessman Shankar Rai’s house on Thursday.
The Joint Commissioner of Income Tax Department, Jabalpur – Munmun Sharma has revealed that out of the total cash, an amount of Rs 1 crore was hidden in bags inside an underground water tank.
Madhya Pradesh | Income-tax department conducted a raid at the premises of local liquor businessman Shankar Rai and his family in Damoh yesterday— ANI (@ANI) January 8, 2022
Details awaited pic.twitter.com/Nn538l5O2B
“The Income Tax Department has seized Rs 8 crores in cash from the Rai family which also included a bag containing Rs 1 crore in cash stuffed in a water container. Besides, three kilograms of gold was also confiscated,” said Sharma.
In the raid that lasted for 39 hours, the officials from the IT department raided over ten premises owned by Shankar Rai and his family in Madhya Prades’’s Damoh district.
It has also been revealed from the raid that Rai’s family owns 36 buses that are registered in the names of their employees.
The Joint Commissioner has also said that the investigation will be further continued in Bhopal, based on the seized documents from Rai’s house.
“The department will now investigate the seized documents and unnamed properties. So, we will have to wait for the final figure”, said Sharma.
Meanwhile, the IT department has announced a reward worth Rs 10,000 to anyone who gives more information on the assets of the family.