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Income tax conducts raid at 11 locations of SB Ornament across Uttar Pradesh, Delhi

The Group’s Nine Locations In Agra And 2 Locations In Delhi Have Been Under I-T Scanner Post Demonetisation For Black Money.

News Nation Bureau | Edited By : Apoorva Nawaz | Updated on: 22 Dec 2016, 03:24:40 PM
Income tax conducts raid at 11 locations of SB Ornament across Uttar Pradesh, Delhi (representative image)

Agra:

Income Tax official conducted raid at Uttar Pradesh’s one of the leading jewellers’ SB Ornament group’s 11 locations.

The group’s nine locations in Agra and 2 locations in Delhi have been under I-T scanner post demonetisation for black money. The group has an annual turnover of Rs 45,000 crore. The raid was conducted by 80 top income tax officials.  

According to sources, I-T got tipped off by information that large amount of cash has been deposited in the bank by the SB ornament group post December 8 demonetisation drive.  The group has deposited almost 11 crore in a private bank in just one day.
I-T sleuths conducted raids at the office, home and shops of SB ornament.

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First Published : 22 Dec 2016, 03:11:00 PM

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