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Income Tax raids at premises of three shoe traders in Agra, Rs 60 crore recovered so far

The Income Tax Department conducted a raid at the premises of three shoe traders after getting an information of tax evasion. So far huge cash of over Rs. 60 crore has been recovered along with various documents.

Edited By: Shubham Bajpai Agra Updated on: May 19, 2024 0:00 IST
Cash recovered by Income Tax Department
Image Source : INDIA TV Cash recovered by Income Tax Department

In a recent development, the Income Tax department has initiated raids on the residences and establishments of prominent shoe traders in Agra, Uttar Pradesh.

The targets of the raid include three notable shoe traders, namely BK Shoes, Manshu Footwear, and another unnamed trader, suspected of involvement in tax evasion and illicit financial activities. The Income Tax team has been conducting simultaneous raids across various cities, with a particular focus on Agra. The raid, currently underway at BK Shoes in Subhash Bazaar and Manshu Footwear at Dhakaran intersection, has already lasted for five hours. Shockingly, authorities have reportedly seized over 60 crore rupees in cash so far, along with numerous documents.

The department had received information that the shoe traders were evading taxes. After this, at 3 pm, the Income Tax Department officers reached the showrooms of the three businessmen and started the search operation by taking out the people who had come to shop. At present, the raid is going on. Income Tax Department teams are checking files and devices.

Another IT Department raid in Gujarat

Ealier in the day, Income Tax department also conducted a raid in Gujarat's Ahmedabad and Vadodara. The IT Department launched a raid on a real estate group Madhav Group of Industries. The group, known for its real estate and government infrastructure projects, faced raids at 27 locations across the two cities.

The search operation began on Saturday morning. Authorities have scrutinised their transactions to determine whether any can be classified as benami. Over 50 officials of the IT department were part of the team that raided the group. The group’s premises which were raided included their office in Subhanpura, Vadodara. Madhav Group, which has a presence in Karnataka, Delhi, Madhya Pradesh, Uttarakhand, and Maharashtra, has been under scrutiny since its establishment in 2010.

The group operates in diverse sectors, including energy, real estate, highways, and urban infrastructure.

Reported by : Ankur Kumar

 

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