V
V.Balasubramani
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After demonetisation of high value currencies.. it is now raids against jewellery retail and wholesale outlets now.....
Income Tax, Excise Intelligence Raid Jewellery Outlets In Tamil Nadu
The stock and sale details of gold jewelleries, from November 7 onwards, are being verified.
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CHENNAI: Income Tax and Central Excise Intelligence sleuths are conducting raids at jewellery outlets across Tamil Nadu following information that there were heavy gold purchases after the demonetization of high-value currencies.
"We have begun our raids at gold jewellery retail and wholesale outlets today. We are seeing if unaccounted demonetised currencies were used for gold purchases and hawala operations through the gold market," a top Income Tax official told PTI.
The raids were being conducted following a tip-off that heavy gold purchases were witnessed after the demonetisation of Rs. 500 and Rs. 1,000 notes, the official said.
Replying to a query, he said, "There are some evidences...the searches are on and these are at a preliminary stage," adding that so far, the IT sleuths have searched eight outlets.
Central Excise Intelligence sources said surprise raids were being conducted at all the major jewellery shops in the state since yesterday.
As many as 35 officers of the ranks of senior intelligence officer, assistant and deputy director are conducting the raids.
The stock and sale details of gold jewelleries, from November 7 onwards, are being verified.
Read more at: http://www.ndtv.com/tamil-nadu-news...-raid-jewellery-outlets-in-tamil-nadu-1624475
Income Tax, Excise Intelligence Raid Jewellery Outlets In Tamil Nadu

The stock and sale details of gold jewelleries, from November 7 onwards, are being verified.
-----------------------------------------------------------------------------------
CHENNAI: Income Tax and Central Excise Intelligence sleuths are conducting raids at jewellery outlets across Tamil Nadu following information that there were heavy gold purchases after the demonetization of high-value currencies.
"We have begun our raids at gold jewellery retail and wholesale outlets today. We are seeing if unaccounted demonetised currencies were used for gold purchases and hawala operations through the gold market," a top Income Tax official told PTI.
The raids were being conducted following a tip-off that heavy gold purchases were witnessed after the demonetisation of Rs. 500 and Rs. 1,000 notes, the official said.
Replying to a query, he said, "There are some evidences...the searches are on and these are at a preliminary stage," adding that so far, the IT sleuths have searched eight outlets.
Central Excise Intelligence sources said surprise raids were being conducted at all the major jewellery shops in the state since yesterday.
As many as 35 officers of the ranks of senior intelligence officer, assistant and deputy director are conducting the raids.
The stock and sale details of gold jewelleries, from November 7 onwards, are being verified.
Read more at: http://www.ndtv.com/tamil-nadu-news...-raid-jewellery-outlets-in-tamil-nadu-1624475