IT dept seizes gold, silver worth Rs 12 cr from shop

The Income Tax sleuths today seized large quantities of gold and silver worth Rs 12 crore from a jewellery shop at Chowk Bazar locality under Biharsharif police station area in Nalanda district, officials said.

Income Tax teams from Patna and Nalanda raided the premises of a jewellery shop and seized 26 kg gold and 130 kg silver after the owners failed to provide relevant documents in this regard, officials said.

An amount of Rs 16 lakh in cash and a mobile phone were also seized from the jewellery shop.

Altogether 22 bank accounts were sealed for the purpose of investigation, the sources said.