Income tax sleuths, continuing their probe into the accounts of the five jewellers raided on Thursday, have found that a substantial amount of the money was deposited in their bank accounts after the announcement of demonetization of Rs 1000 and Rs 500 notes on November 8. They are said to have had kept their shops open till midnight with people thronging their shops to purchase gold.
"During the survey being conducted in the jewellery shops in Ranchi and Ramgarh, it was found that a substantial amount of more than Rs 3 core cash was deposited in their bank accounts after demonetization," said a senior official of the Income Tax Department requesting anonymity.
"They (jewellers) are calling it their old stocks which is illogical as those amounts were not deposited earlier and kept it with them in cash which is not acceptable," said the IT official. All the notes deposited in the banks were of higher denominations, he added.
The IT official said that the survey was still going on and the bank accounts of their relatives were being checked; action will be taken if any anomaly was found in them.
"Huge stock deficiency has also been found in these jewellery shops where they have sold out of books during these days," said the official. Some suspicious documents have also been seized which are being checked, he said.
"Surprisingly, Rs 4.25 crore of unaccounted money have also been disclosed by these shop owners, authenticity of which is still being confirmed," he said.
Coming into action for the first time after demonetisation, the Income Tax (IT) Department along with Enforcement Directorate (ED) on Thursday raided five jewellery shops simultaneously in Ranchi and Ramgarh to identify people who purchased gold in large quantities after currency of Rs 500 and Rs 1000 were banned in the country.
The five jewellery shops include Tribhuvan Sons Jewellers, Alka Jewellers, New Alka Jewellers, Heera Panna Jewellers and Kundan Jewellers in Ranchi along with Tribhuvan Sons Jewellers in Ramgarh being surveyed simultaneously by the Income Tax department even on Friday till the report was being filed.