IT conducts raids on Bengaluru businessmen

NT Correspondent

Bengaluru: Income Tax sleuths have recovered more than Rs 50 crore cash during raids on several people including a contractor, his son, a gymnasium instructor and an architect in Karnataka, a highly-placed department official said on Sunday.

The raids that started from Thursday at 25 places belonging to two major infrastructure companies expanded to 45 by Saturday evening, the official further said.

Charging them with tax evasion, the I-T Department officials raided their offices at various places including Sahakarnagar and Sanjaynagar. Several documents were confiscated.

Followed by the lead obtained from these two firms, I-T officials searched the houses and other places of contractors and various other people.

"A total of 45 locations were searched till Friday while ten more places were raided and searched on Saturday," the official added.

On Saturday, the IT officials raided several offices and residences belonging to an architect and a gymnasium owner's house along with other places including Rajajinagar, Sahakarnagar and Sanjaynagar. Several documents were confiscated along with a total amount of Rs 50 crore.

According to sources, a team consisting of five IT officials recovered Rs 45 crore at a flat in Rajajinagar belonging to a businessman on Saturday. Later more officials were called in for the inspection. It is said that the cash was hidden inside three trunks, three bags and two suitcases.

The officials counted the money till midnight and filled 32 boxes with the cash, the sources added. A notice was issued by the official to the businessman to appear for questioning.

According to sources in the BJP, the contractor whose house was raided was the most prominent face of the allegations of 40 per cent commission against the previous BJP government.