The Income Tax Department has busted a Hawala racket and recovered documents with transaction details of more than Rs 500 crore in Madhya Pradesh's Jabalpur city.
The details were recovered during raids conducted at multiple locations in the last two days.
As per sources, the IT department conducted raids at 17 different locations in the state. During the raids, the IT department recovered undisclosed property of Rs 3.5 crore and Rs 60 lakh worth of cash belonging to a businessman in Jabalpur.
Investigation in the matter is underway. A political angle is also being probed by the IT department.
Madhya Pradesh will go to polls on November 28 to elect members to 230 constituencies. Results will be declared on December 11.
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