Income Tax survey at jewelry shops/bullion traders in Ahmedabad, Vadodara

Ahmedabad/Vadodara: Income Tax department today conducted surveys at various jewelry shops and bullion traders in Ahmedabad and Vadodara cities of Gujarat as part of their nation-wide operation to trace the possible large-scale illegal sale of gold and other jewelry soon after the announcement of demonetization of Rs 500 and Rs 1000 notes on November 8.

Various IT teams conducted search surveys at jewelry shops in Manek Chowk locality of old Ahmedabad city and Mandvi road and Alkapur localities of Vadodara.

An official of the IT department said that the survey was conducted to check the stock position and find out any irregularity or abrupt rise in sale post demonetization and scrapped notes deposited by them.

Some information has been collected with copies of some documents. These will be scrutinized and any legal action needed will be initiated as per law, he said.

The survey was also conducted in famous Damodar Das jewelers of Vadodara. Other shops who came under the ambit of the IT survey were Vasupujya jewelers, JMC jewelers (both in Ahmedabad) and Mangalam jewelers of Vadodara.

Incidentally LCB of west Kucth police today also conducted raid on the house of a jeweler in Bhuj and recovered old and new currency worth over Rs 86 lakh from there.

DeshGujarat