Jewellers surrender unaccounted wealth worth Rs 32.80 crore

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SummaryThese surveys were conducted under Section 133A of the Income Tax Act to assess unaccounted wealth, gold and silver ornaments, he said.

In an extensive survey against local businessmen conducted by Income Tax sleuths, five jewellers today surrendered unaccounted income worth Rs 32.80 crore to the I-T commissionerate, Income Tax Commissioner Suman K Anand said.

Out of the unaccounted wealth worth Rs 32.80 crore detected, Gappulal Babulal surrendered Rs 15.80 crore, Kewalchand Khubaji surrendered Rs 9.5 crore, Madanlal Kothana surrendered Rs 3.5 crore, Tanisha Jewellers surrendered Rs 2.5 crore and M/S Madanlal Chhaganlal surrendered Rs 1.5 crore.

Incriminating documents found at business premises were also impounded, he said, adding that similar surveys were underway at smaller jewellers' premises in the city.

About 30 income tax sleuths were deployed for surveys at showrooms and residences of the city's top five jewellers.

These surveys were conducted under Section 133A of the Income Tax Act to assess unaccounted wealth, gold and silver ornaments, he said.

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