Income Tax officials recover gold, cash hidden in false ceiling

BENGALURU: The Income Tax Department simultaneously carried out raids at multiple jewellery showrooms in the Jayanagar 4th Block and searched for four days continuously. The I-T officials raided Polki’s, Abhushan, Riddhi Creation, Thirumalam and Mangala Gold Store.

The I-T officials seized more than Rs 45 crore in cash and more than 100 kg of gold in the four-day raid. About 100 kg of gold jewellery was found in a single jewellery store that was raided. The shop owner has hidden gold ornaments and cash in the false ceiling of his house where he had created three lockers.

The I-T officers searched the shop for four days and seized more than 100 kg of gold.