Income Tax department raids two jewellery shops in Bengaluru

Bengaluru: The Income Tax Department on Friday carried out raids at two jewellery shops, Aabushan and Polski jewellers in Bengaluru's Jayanagar.

With several such raids carried out throughout the city, these are a component of the IT department's attempt to closely examine these businesses' financial dealings and discrepancies in the filing of IT returns.

As per sources over 30 officials were involved in the raids.

The Aabushan jewellers have been raided for three days and then the search continues.

IT officials have also raided the owner's residence of Aabhushan Jewellers in Jayanagr's second block.

In October, raids were carried out at notable places such as MG Road, Mahalakshmi , Layout, Girinagart, and Banashankari.

Back then, to conduct inspections, a group of six IT officers in three automobiles drove up to the site, where an official was waiting for them on MG Road.

Such raids in Bengaluru are being conducted with one principal goal: to find any financial irregularities or tax fraud in the jewellery industry.

More detailed information on these search activities should become available as the IT investigation progresses.