I-T raids jewellery shops at Zaveri Bazaar

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Mumbai, Dec 30 (ANI): The Income Tax officials conducted raids at some jewellery and bullion dealers, heaping more anxiety on the trade that is coping with several official agencies investigating suspicious cash deals almost every day. The Mumbai income tax department is inspecting four large bullion dealers based in Mumbai city’s gold hub, and adjoining Kalbadevi area. An I-T staffer said that the questionable sale transactions of bullion, post the demonetisation were behind the surveys. He added that huge amount of cash in new denominations is suspected to be hoarded and some dubious bank transactions also under investigation.

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