ALSO READI-T unearths Rs 65 cr black money in human hairs export Income Tax Office receives 15-25 lakh PAN applications a week Tax Department logs sharp rise in prosecution of tax evaders 1 lakh Income Tax notices sent to Bitcoin investors 'Benefit of standard deduction negligible for salaried class'
The raids were conducted based on information that the dealer had transacted huge money reportedly through the Kottayam-headquartered finance firm having branches across the city during the demonetisation period, police said.
A seven-member team of I-T officials raided the office and house of the owner of the gold dealing company.
They reportedly found a large number of transactions had taken place through his account during the period when the high value currency notes were scrapped in 2016 November, they said.
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